European Equities Close Mostly Higher in Thursday Trading; EU Targets July 9 for US Trade Deal
The European stock markets closed mostly higher in Thursday trading as the Stoxx Europe 600 rose 0.40%, Germany's DAX was up 0.47%, the FTSE 100 increased 0.55%, France's CAC 40 gained 0.21%, while the Swiss Market Index was off 0.12%.
The European Union is aiming for a trade agreement in principle with the US by July 9, Bloomberg reported Thursday, citing comments by European Commission President Ursula von der Leyen to reporters in Denmark. A detailed agreement for such a large trading relationship wouldn't be feasible, von der Leyen reportedly said.
The seasonally adjusted HCOB Eurozone Composite PMI, which is a weighted average of the HCOB Manufacturing PMI Output Index and the HCOB Services PMI Business Activity Index, rose to 50.6 in June from 50.2 in May. The reading was the index's highest in three months and above the 12-month average.
More sectors registered output growth and new orders during June than in May, according to the S&P Global Europe Sector PMI. Eleven of the 19 monitored segments saw an increase in activity for the month, increasing from only seven in May.
And in corporate news, Novartis said Thursday that a phase 3 study of its drug Cosentyx combined with a 26-week steroid taper in adults with newly diagnosed or relapsing giant cell arteritis did not meet its primary endpoint. The endpoint was a statistically significant improvement in sustained remission at 52 weeks compared with placebo plus a 52-week steroid taper.
Source : MT Newswires
