On Tuesday, European shares saw a small increase, technology firms helped by a recent run of gains. Investors await economic data that anticipate showing a slight improvement in business activity across the eurozone.
After a solid Wall Street close, the pan-European STOXX 600 index increased by 0.1%, helped by tech sectors that had suffered last year as a result of rising interest rates.
S&P Global’s flash reading anticipates that the euro zone flash composite PMI will increase to 49.8 in January from 49.3 in December. The reading is scheduled to be released at 0900 GMT. This improvement came as energy costs declined and inflation slowed.
According to German magazine Stern, the chief executive of the German defence business predicted sales would increase to 11–12 billion euros ($12–$13 billion) in 2025. As a result, Rheinmetall stock increased by 1.2%.
European shares rise as the economy’s outlook changes
After the Swiss watchmaker expressed optimism about a revival in the China market and also predicted a 2.5% growth in 2022 sales, Swatch Group edged up 0.8%.
SalMar and Mowi, two Norwegian salmon producers, saw their shares rise 4.7% and 9.1%, respectively, to lead the STOXX 600.