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European shares stabilise, spotlight on PMI readings

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By Reuters
European shares stabilise, spotlight on PMI readings
FILE PHOTO: Traders work at Frankfurt's stock exchange in Frankfurt, Germany March 14, 2019. REUTERS/Ralph Orlowski   -   Copyright  Ralph Orlowski(Reuters)

(Reuters) – European shares steadied on Friday after a bout of selling this week on concerns a preliminary U.S.-China trade deal might not be sealed soon, while investors prepared for PMI readings from major European economies.

After declining for four days in a row, Europe’s main equities benchmark <.STOXX> rose 0.4% by 0808 GMT. London’s FTSE 100 <.FTSE> gained the most as miners, oil majors and banks rebounded from sharp falls.

IHS Markit’s final Purchasing Manager’s index readings for France, Germany, Britain and the eurozone are all due by 0815 GMT, likely giving fresh insight into how the bruised manufacturing sector is coping amid global trade disputes.

With little in the way of earnings updates, investors will focus on a speech from European Central Bank chief Christine Lagarde and Germany’s Finance Minister Olaf Scholz later in the day.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Bernard Orr)