European stocks close higher with euro zone data in focus; Adidas and Puma shares rise
European stocks closed higher Wednesday as investors reacted to key data releases from the euro zone and weighed up the possibility of further stimulus measures for the region.
The pan-European Stoxx 600 closed 0.7% higher provisionally, with travel and leisure stocks bouncing 2.3% as most sectors and major bourses held in positive territory.
Euro zone business activity growth slowed in September, with IHS Markit’s preliminary euro zone composite purchasing managers’ index (PMI) reading coming in below expectations at 50.1, down from 51.9 in August. A reading above 50 represents expansion.
Adidas shares climbed over 4% and fellow German sportswear brand Puma also added 4%, buoyed by a strong earnings report from U.S. rival Nike. French engineering group Alten jumped more than 9%.
Reference: CNBC
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