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European stocks close higher as investors pay attention to data and OPEC+ conflict

European stocks close higher as investors pay attention to data and OPEC+ conflict

LONDON-European stock markets closed higher on Monday as investors digested new data showing a surge in business activity in the Eurozone in June.

Pan-European Stoke 600 It fluctuated on either side of the flat line earlier in the day and temporarily closed up about 0.3%. Banking stocks rose 1.8% to lead the gains, while healthcare stocks fell 0.4%.

The US market is closed for the holiday weekend of July 4.

A similar background appeared in the Asia-Pacific region overnight, European stock markets fluctuated, and stock prices were mixed in trading on Monday Brent crude oil futures It rose to more than $76 before OPEC held another meeting with its allies.

The organization was originally scheduled to hold austerity talks on Monday, after the organization had differences over the extension of the oil production cut deadline last week. The United Arab Emirates opposed this move.

However, after a two-hour delay, Reuters quoted two sources as saying that the meeting has been postponed and no new date has been set. Bloomberg also reported that this means OPEC+ will continue to maintain the current level of production quotas.

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The final Eurozone Purchasing Managers Index in June showed that as Covid-19 restrictions were lifted across the European continent, business activities expanded at the highest rate in 15 years. The final composite PMI reading of IHS Markit was 59.5, which was higher than 57.1 in May and higher than the “fast” estimate of 59.2.

In terms of individual stock price movements, British supermarket chains Morrison Soaring 11.6% after the third private equity group Joined the race to acquire a company.

At the bottom of the European blue chip index, Dutch technology investment company Prosus fell 6.1% after intensifying its crackdown on newly listed online ride-hailing in China Didi.

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