European Markets Update

European stocks are higher after eurozone PMI came in slightly better-than-expected today. Germany's PMI was in-line while the U.K. PMI reading came in at 54.3, below its expectation of 56.9. However, the reading still showed expansion as it was over 50. The U.K. FTSE is currently up 1.5% led by materials (+2.5%) and tech (+2.0%). The German DAX is higher by 1.2% led by consumer staples (+2.5%) and consumer discretionary (+2.0%). The French CAC is higher by 1.8% led by consumer discretionary (+2.9%) and materials (+2.3%).