BREAKING: DE30 jumps on mixed PMIs from France and Germany

Flash PMI indices for October from France and Germany were released today at 8:15 am BST and 8:30 am BST, respectively. Market expected deterioration in both countries in both services and manufacturing sectors.

France

• Manufacturing: 53.5 vs 54.0 expected (55.0 previously)

• Services: 56.6 vs 55.5 expected (56.2 previously)

Germany

• Manufacturing: 58.2 vs 56.9 expected (58.4 previously)

• Services: 52.3 vs 55.1 expected (56.2 previously)

Actual data showed a mixed picture. Services sector in France performed better-than-expected in October while the manufacturing sector missed expectations. When it comes to the German release, tables turned. Manufacturing sector beat expectations and the services sector lagged. Stock markets caught a bid following French releases. While indices move higher in a knee-jerk move following German reading, gains were later erased.

Source: xStation5