London — The euro set a new six-month high on Tuesday and the region’s shares made gains as the latest economic data made for some encouraging reading, especially in Germany. Investors continued to grapple with US uncertainty and a deadly bomb blast in Britain subdued the pound, but eurozone purchasing managers index (PMI) surveys, showing the bloc’s firms on their strongest run since 2011, lifted the mood. The euro climbed as high as $1.12680 to beat the previous day’s high by a whisker, while London FTSE, Frankfurt’s DAX and the CAC in Paris pushed up 0.3%, 0.5 and 0.7% respectively in share markets. Alongside strong headline numbers, one of the most eye-catching details in the data was the biggest manufacturing sector job growth reading in the survey’s 20-year history and overall employment gains were the second best in a decade. "It’s a very good result and it’s broad based. We’ve got a good pace of growth here. The fact we have maintained this high level in May is great news fo...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.