(CercleFinance.com) – If London remains more or less stable, the continental places show significant gains (+1% in Frankfurt, +0.6% in Paris), against the backdrop of a rather reassuring PMI index regarding the evolution of the economy in the euro zone.
The HCOB composite flash PMI index of overall activity in the euro zone stood at 48.9 in February, compared with 47.9 in January, signaling a ninth consecutive monthly decline in private business activity, but the weakest since June 2023.
‘The employment figures also show a certain optimism in private companies in the euro zone, the increase in staff numbers having accelerated compared to January,’ points out Norman Liebke, economist at Hamburg Commercial Bank.
For the United Kingdom, the composite PMI index came to a preliminary estimate of 53.3 for this month, compared to 52.9 in January, reflecting the highest growth in British private sector activity in nine month.
The session was also marked by numerous publication of results, particularly in Paris where operators welcomed those of the insurer Axa and the energy group Engie (+2%), but neglected those of the agri-food group Danone (-1%).
Elsewhere in Europe, the annual accounts of Rolls-Royce (+7% in London), Mercedes-Benz (+5% in Frankfurt) and Repsol (+4% in Madrid) receive warm welcomes, unlike those of Nestlé (-3% in Zurich).
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