- China manufacturing expands
- Eurozone factory PMI revised down
- US manufacturing slows
- German inflation falls
- Spain's King abdicates
FTSE 100: 0.29%
CAC 40: -0.08%
FTSE MIB: 0.77%
IBEX 35: 0.27%
Stoxx 600: 0.24%
European stocks were little changed following the release of mixed manufacturing data in China, the Eurozone and the US.
China's manufacturing purchasing managers' index (PMI) rose to 50.8 in May from 50.4 in April, according to official figures from the National Bureau of Statistics and China Federation of Logistics and Purchasing yesterday, the strongest figure since December. Economists had pencilled in a reading of 50.7. A reading above 50 signals expansion.
In the Eurozone, Markit's manufacturing PMI was revised down to 52.2 in May from the flash estimate of 52.5, surprising analysts who expected the reading to remain unchanged. It compared to April's 53.4.
The Institute for Supply Management's (ISM) said its manufacturing index for the US fell to 53.2 last month from 54.9 in April, missing analysts' expectations of 55.5.
A separate release from Markit showed US manufacturing PMI climbed to 56.4 in May from 56.2 in April. Analysts had forecast the reading to remain unchanged.
German inflation fell to 0.9% year-on-year in May from 1.3% the previous month, compared to the consensus forecast of 1.1%.
The report comes a day ahead of Eurozone inflation data amid speculation over the European Central Bank (ECB) easing monetary policy at its Thursday meeting.
Many economists predict new policy measures will be introduced this week by the ECB to address weak inflation and a stagnant recovery.
European Central Bank (ECB) policymakers Yves Mersch, Daniele Nouy and Luis Linde were due to speak today ahead of the meeting.
Berenberg Senior Economist Christian Schulz said it predicts the ECB will ease its stance and "keep the door wide open for further steps".
Elsewhere in the euro-area making waves was news that Spain's constitutional monarch King Juan Carlos I will abdicate in favour of Crown Prince Philip, capping a nearly 40-year reign.
Orion Oyj gained after the Finnish drugmaker upgraded its profit forecast for 2014 because of an agreement with Bayer AG to jointly develop and sell a treatment for prostate cancer.
A gauge of miners rallied, including Anglo American and Rio Tinto, following the upbeat Chinese PMI report.
Det Norske Oljeselskap edged higher after agreeing to buy Marathon Oil Corp.'s Norwegian business for $2.7bn.
STMicroelectronics slumped after Citigroup recommended selling shares
in Europe's largest semiconductor maker.
Air France-KLM Group edged higher after a report that the airline will start a €1bn cost-cutting programme in 2015.
Lagardere SCA retreated as Societe Generale SA lowered the publisher of the Asterix series of books to 'hold' from 'buy'.
The euro fell 0.22% to $1.3605.
Brent crude futures dropped $0.330 to $109.050 per barrel, according to the ICE.