Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Europe midday: Shares gain after eurozone PMI data; DAX outperforms
(Sharecast News) - European markets made strong gains in the morning session on Wednesday as investiors cheered survey data showing eurozone business activity fell at the slowest rate for six months in January.
The pan-regional Stoxx 600 index was up 0.94% at 475.95 with all major bourses higher. Germany's DAX outperformed with a 1.24% gain, despite the Institute for Economic Research forecasting that gross domestic product was likely to grow by just 0.7% in 2024, down from a previous forecast of 0.9% in response to drastic cuts to the government's 2024 budget amid a funding shortfall.
Business activity in the eurozone fell at the slowest rate for six months in January, according to provisional survey data released on Wednesday, albeit with downturns persisting in both manufacturing and service sectors amid further falls in new business.
The flash eurozone composite purchasing managers index came in at at 47.9 compared with 47.6 in December. A mark below 50 indicates contraction.
Meanwhile, the services business activity index hit a three-month low of 48.4 from December's 48.8, while the manufacturing output index was 46.6, from 44.4 - a nine-month high.
In equity news, shares in Siemens Energy surged after first-quarter results came in better than expected.
Shares in semiconductor equipment maker ASML gained after results beat expectations, although it forecast flat revenues for 2024.
German software company SAP jumped 7.7% in early deals after the company released its latest financial results and announced plans to restructure 8,000 jobs in a push toward artificial intelligence growth.
Puma shares fell after the sportswear maker said it expected 2024 sales growth in mid-single-digits, compared with previous guidance of high single-digits after results were hit by the extraordinary devaluation of the Argentine peso by 54% in December 2023.
Reporting by Frank Prenesti for Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.