European Stocks Await PMI Data
European stocks were muted on Monday as investors awaited the release of Purchasing Managers’ Index (PMI) data and weighed the results of the first-quarter earnings season.
The Stoxx Europe 600 Index was little changed, with a 0.1% decline. The index had risen 0.7% last week, its fourth consecutive weekly gain.
PMI Data in Focus
The focus of the market was on the PMI data, which is expected to show that the eurozone economy is continuing to recover from the pandemic. The data is expected to show that the manufacturing sector is continuing to expand, while the services sector is still struggling.
The PMI data is expected to show that the eurozone economy is continuing to recover from the pandemic, but at a slower pace than expected.
Earnings Season Results
The market was also weighing the results of the first-quarter earnings season. The results have been mixed, with some companies reporting better-than-expected earnings, while others have reported weaker-than-expected results.
Overall, the earnings season has been positive, with most companies reporting better-than-expected results.
European Sectors
The sectors that performed the best were technology, consumer discretionary, and healthcare. The technology sector was the best performer, with a 1.7% gain. The consumer discretionary sector was up 1.3%, while the healthcare sector was up 0.9%.
The sectors that performed the worst were energy, materials, and financials. The energy sector was the worst performer, with a 1.3% decline. The materials sector was down 0.7%, while the financials sector was down 0.6%.
European Currencies
The euro was little changed against the dollar, trading at 1.20. The pound was also little changed, trading at 1.40.
European Bonds
European government bonds were mostly higher, with yields on German 10-year bonds falling to -0.17%. Yields on French 10-year bonds were also lower, falling to 0.07%.
European Commodities
European commodities were mostly higher, with Brent crude oil up 0.5% to $68.50 a barrel. Gold was also higher, up 0.3% to $1,788 an ounce.
Outlook
The market is expected to remain volatile in the coming weeks as investors await the release of the PMI data and weigh the results of the first-quarter earnings season. The market is also likely to be influenced by geopolitical developments, such as the ongoing tensions between the U.S. and China.
Overall, the outlook for European stocks remains positive, with the market likely to continue to benefit from the ongoing economic recovery.