European shares closed higher, supported by signs from the Chinese economy

European stock markets closed in positive territory on Monday. In a week marked by anticipation of the European Central Bank (ECB) decision, the picture was supported by an index from China, the continent’s largest buyer of products.

The pan-European Stoxx 600 index closed up 0.92% at 444.12 points.

In China, the composite Purchasing Managers’ Index (PMI) rose from 37.2 in April to 42.2 in May, according to a survey by S&P Global and Caixin Media. Although it is still below the 50 mark, which separates contraction from expansion in the survey, the data was seen as a positive sign, at a time when the country relaxed closures imposed to contain Covid-19.

Barclays says in a customer report that the epidemic situation in China is improving, with fewer infections and relaxation closures. However, the bank warns that the country’s economic recovery “looks gradual and bumpy”.

In local news, British Prime Minister Boris Johnson will face a vote of no-confidence on Monday. In Eurasia’s assessment, Johnson should remain in office, but it may be public that a reasonable number of parliamentarians do not support him.

There are still expectations from the European Central Bank on Thursday. Report for financial times He stated that the central bank should stick to the plan to avoid pressure in the debt markets of the most vulnerable countries in the eurozone, such as Italy.

On the London Stock Exchange, the FTSE 100 index closed 1.00% higher at 7,608.22 points.

In Frankfurt, the DAX index rose 1.34% to 14653.81 points. Commerzbank was the most heavily traded stock, up 3.97%, followed by Deutsche Bank (+2.51%).

On the Paris Stock Exchange, the CAC 40 index advanced 0.98% to 6548.78 points.

The FTSE MIB index, on the Milan Stock Exchange, recorded a gain of 1.65%, at 24565.67 points. Among Italian banks, Intesa Sanpaolo rose 3.27%, while Telecom Italia rose 0.66%.

On the Madrid Stock Exchange, the Ibex 35 index rose 1.28% to 8,836.30 points, and Santander (+2.51%) was among the most heavily traded.

In Lisbon, the PSI 20 index closed up 0.82% at 6,273.37 points.