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European shares hit record high, PMIs take spotlight

Published 12/16/2019, 04:50 PM
Updated 12/16/2019, 04:56 PM
European shares hit record high, PMIs take spotlight
UK100
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STOXX
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SXPP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
LONDON, Dec 16 (Reuters) - European shares hit an all-time
high on Monday as a "totally done" initial trade deal between
the United States and China kept the momentum rolling after a
rally last week spurred by Britain's election.
The pan-European STOXX 600 index .STOXX gained 0.89% to
415.68 points, surpassing the previous life-high made in April
2015.
Trade-sensitive miners .SXPP were the top gainers after
U.S. Trade Representative Robert Lighthizer said over the
weekend that a "phase one" U.S.-China trade deal will nearly
double U.S. exports to China over the next two years and is
"totally done". Germany's DAX .DAXI lagged its European peers, however, as
Markit's Purchasing Managers' Index showed private sector
activity shrank for the fourth month running in December as a
downturn in manufacturing offset services sector growth.
French business activity grew at a steady pace in December
despite a nationwide strike against pension reform, but the
activity in the manufacturing sector came unexpectedly close to
stagnating. London's FTSE 100 .FTSE jumped 1.2%, with banks extending
gains as British Prime Minister Boris Johnson eyed a vote in
parliament soon to deliver his Brexit deal.

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