European stock markets sprint ahead despite gloomy manufacturing data
AFP, May, 2005
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PARIS (AFP) — European stock markets sprinted ahead, with investors undeterred by gloomy eurozone manufacturing news.
In Paris the CAC 40 was up 0.80 percent Monday at 3,943.03 in mid-morning trade while in Frankfurt the DAX rose 0.99 percent 4,226.13.
The DJ Euro Stoxs 50 index of leading eurozone shares added 0.85 percent to reach 2,954.99.
The London market was closed for a holiday.
Market sentiment withstood a report Monday that manufacturing activity in the 12-nation eurozone contracted in April.
The purchasing managers' index, compiled by NTC Research, fell to 49.2 points from 50.4 in March. A reading under 50 indicates a contraction in the manufacturing sector.
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The index fell to 49.8 from 51.9 in France, 49.7 from 50.3 in Germany and 48 from 49.1 in Italy, the three largest eurozone economies. ...
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