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The German DAX Stock Market Index elevated 3.6{cd8214edf223f50db3e97f57df2f42a334faed3f95dba4d4d7896a2a8432f224}, persevering with its comparatively good type as investors look to China proxies in Europe. The FTSE one hundred Index was the week’s laggard, closing flat, with the pound up 1{cd8214edf223f50db3e97f57df2f42a334faed3f95dba4d4d7896a2a8432f224} against the US dollar via the week, muting features within the exporter-heavy index. In terms of sectors, travel and leisure led the way, up 4.5{cd8214edf223f50db3e97f57df2f42a334faed3f95dba4d4d7896a2a8432f224}, as sentiment improved on mobility round Europe this summer. However, we’d notice that this outperformance within the space comes from a really low base.
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Macro information continued to improve, with last eurozone June PMIs revised higher throughout all three readings (manufacturing, services and composite). This suggests strong month-to-month GDP enhancements will likely be seen for May and June.
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