Europe stocks rise as oil retreat aids sentiment; PMI data in focus
European shares inched higher on Wednesday as lower oil prices supported sentiment, while investors awaited key business activity data due later in the day. The benchmark pan-European STOXX 600 was up 0.4% at 645.04 points by 0708 GMT. Most major regional bourses also traded higher. Investors awaited S&P Global’s flash September purchasing managers’ index (PMI) survey for the euro zone, which…
European stocks climbed slightly on Wednesday as falling oil prices boosted investor sentiment, while traders awaited crucial economic data. The STOXX 600 index for Europe gained 0.4% to 645.04 points by 0708 GMT. Most major regional stock markets also posted gains. Investors were keeping an eye on the S&P Global flash September Purchasing Managers' Index (PMI) survey for the euro zone, which could shed light on the region's economic condition.
Aerospace and defense firms drove sectoral gains, with Saab and Exosens among the top gainers. Oil prices continued their downward trend as investors weighed the chance of larger Gulf supplies following Saudi Arabia's restart of operations at a crucial pipeline. Energy stocks surged 0.8%. Among individual shares, KWS fell 6.1% after its annual net sales fell 3% to €1.63 billion ($1.86 billion), below the IBES forecast of €1.68 billion due to lower sugarbeet and corn acreage.
Shares of Adyen slipped about 2% after the Dutch payment processor named Klarna's Niclas Neglen as its next Chief Financial Officer, starting February 1, 2027.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
