European Markets Climbed In Light Holiday Trade

(RTTNews) - The European markets are on track to end the first trading session of the new year with gains. The markets overcame early weakness and finished the day in positive territory. Trading activity was on the light side, with markets in the U.K. and the U.S. closed for the long New Year's Day holiday.

Economic data was also on the light side Monday, but investors were presented with Eurozone PMI data as well as Chinese manufacturing data. The final Eurozone factory PMI was the highest score since April 2011.

The pan-European Stoxx Europe 600 index is advancing 0.55 percent. The Euro Stoxx 50 index of eurozone bluechip stocks is increasing 1.06 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is adding 0.31 percent.

The DAX of Germany is climbing 0.90 percent and the CAC 40 of France is rising 0.47 percent. The FTSE 100 of the U.K. was closed and the SMI of Switzerland was also closed.

In Frankfurt, Wirecard is increasing over 2 percent. The payments technology provider announced that Star Global Currency Exchange Private Limited, a group company, has got an upgrade of its license issued by Reserve Bank of India to be an authorized dealer in foreign exchange (category II).

Commerzbank is climbing over 3 percent and Deutsche Bank is adding over 1 percent.

Utility RWE is rising nearly 3 percent and rival E.ON is up almost 2 percent.

In Paris, insurer AXA is gaining nearly 1 percent after announcing that it had completed the sale of Bluefin Insurance Group Ltd, its P&C commercial broker in the UK, to Marsh.

Sanofi is advancing over 1 percent. The pharmaceutical firm and its vaccines global business unit Sanofi Pasteur have confirmed the end of their vaccine joint-venture with MSD (known as Merck & Co. Inc., in the United States and Canada).

Alfa Laval AB is rising over 2 percent in Stockholm after winning an order to supply compact heat exchangers to a natural gas plant in the Middle East.

Eurozone factory activity expanded the most since April 2011, final data from IHS Markit showed Monday. The final factory PMI rose to 54.9 in December from 53.7 in November. This was the highest score since April 2011 and unchanged from the flash estimate.

Germany's employment increased for more than ten years in 2016, data from Destatis showed Monday. The number of persons in employment increased by 425,000, or 1 percent from the same period of the previous year. This was larger than an increase of 377,000 people, or 0.9 percent posted in 2015.

Italy's manufacturing sector logged its strongest growth in six months in December, survey results from IHS Markit showed Monday. The factory Purchasing Managers' Index rose to 53.2 in December from 52.2 in November. This was the highest reading since June.

China's factory activity and non-manufacturing operating growth slowed in December, survey data compiled by the China Federation of Logistics & Purchasing together with the National Bureau of Statistics showed Sunday.

The official manufacturing PMI fell more-than-expected to 51.4 in December from 51.7 in November. The expected score was 51.5.

At the same time, the non-manufacturing PMI dropped to 54.5 in December from 54.7 a month ago.