Business World

Monday 23 April 2018

European shares extend gains after US data

European shares added to their gains while Bund futures erased losses on Monday afternoon as data showed U.S. manufacturing activity grew a touch above of expectations in June.

The Institute for Supply Management (ISM) said its index of national factory activity in June rose to 50.9, ahead of an expected 50.5 reading, rebounding from an unexpected contraction the prior month even though hiring in the sector was the weakest in nearly four years.

The pan-European FTSEurofirst 300 index extended gains to trade 1.3pc higher at 1,166.61 points at lunchtime.

Bund futures erased losses after the U.S. data to last trade 1 tick higher at 141.53.

Reuters

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