European stocks move higher following global stock rally
da-kuk/E+ via Getty Images London (UKX) +1.45% Germany (DAX:IND) +1.47% Germany's services, composite PMI rise in October; Factory orders in Germany increased by 4.2% M/M in September. France (CAC:IND) +2.09% France October PMI numbers show fall in business activity. Spain's service growth remains positive in October. The HCOB Italy Composite PMI rose to 51 in October 2024. Industrial production in the Czech Republic grew 0.8% Y/Y. Industrial production in Hungary declined 7.2% Y/Y in September. Finland recorded a trade surplus of €0.29B in September. Eurozone services, composite PMI edge up in October. The pan-European Stoxx 600 (STOXX) moved 1.16% higher, with regional bourses and sectors broadly rising. Health care stocks added, while utilities fell. Global markets are focusing on the results to determine winner of the presidential race. Trump has won the electoral vote heavy prizes of Texas and Florida, as well as the battleground states of North Carolina, Georgia and Pennsylvania. On the corporate front, major European companies, including Novo Nordisk, Commerzbank, Crédit Agricole, UniCredit, and Enel to give out their earnings results today. Coming up in the session: ECB President Lagarde set to speak today. In the bond market, the U.S. 10-year Treasury yield up 13 basis points to 4.42%. Germany's 10-year yield was down 4 basis points to 2.39%. UK's 10-year yield was down 4 basis points to 4.50%. Currencies: (EUR:USD) (GBP:USD) (CHF:USD) ETFs: (EWG), (GF), (EWI), (EWQ), (FGM), (DAX), (FLGR), (FXB), (EWU), (FKU), (EWUS), (FLGB), (GREK)
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