Modupe Gbadeyanka
By Investors Hub
European stocks have started the New Year in the red despite a mostly positive session in Asia. The dollar has weakened against most major currencies, including the euro and pound, weighing on sentiment.
European bond yields rose after ECB Executive Board member Benoit Coeure reportedly said there is “a reasonable chance” the ECB’s 2.55 trillion euros stimulus program will not be extended again when it expires in September.
While the German DAX Index has fallen by 0.7 percent, the French CAC 40 Index and the U.K.?s FTSE 100 Index are both down by 0.6 percent.
On the economic front, Eurozone manufacturing activity grew the most since the survey began in mid-1997, final data from IHS Markit showed today.
The factory PMI improved to 60.6 in December, in line with the flash estimate, from 60.1 in November.
Separately, U.K. manufacturing activity growth eased more than expected in December, data published by IHS Markit showed.
The IHS Markit/Chartered Institute of Procurement & Supply Purchasing Managers’ Index fell to 56.3 from November’s 51-month high of 58.2.
