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Eurozone PMI Data Supports European Equities

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Last updated: 11/23/2022 11:19:07

11:19 AM EST, 11/23/2022 (MT Newswires) -- The November Eurozone purchasing managers' index report supported European equities on Wednesday as it indicated a smaller-than-expected contraction in the continent.

American depositary receipts of European stocks were up 0.6% at 1,078.68 on the S&P Europe Select ADR Index.

In continental Europe, the gainers were led by pharmaceutical company Novo Nordisk (NVO) and semiconductor company ASML (ASML), which rose 1.8% and 1.7% respectively. They were followed by networking and telecom equipment maker Ericsson (ERIC) and petroleum refining company Equinor (EQNR), which were up 1.6% and 1.4%.

The decliners in continental Europe were led by bank Credit Suisse (CS) and steel company ArcelorMittal (MT), which fell 6% and 1.3% respectively. They were followed by oil company Total (TTE), which dropped 1%.

In the UK and Ireland, the gainers were led by banks HSBC (HSBC), Barclays (BCS) and Lloyds (LYG), which rose 1.6%, 1.5% and 1.4%, respectively.

The decliners in the UK and Ireland were led by pharmaceutical companies Adaptimmune Therapeutics (ADAP) and Amarin (AMRN), which dropped 4.5% and 3.3% respectively.

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