The European markets are in positive territory on Monday, buoyed by encouraging economic data from China. The Asian markets ended mixed, as concerns about the U.S. fiscal cliff overshadowed optimism about the improving outlook for China's economy.
Sentiment was also influenced by the meeting of Eurozone finance ministers in Brussels later today to discuss details of the buyback of Greek bonds held by investors at a discounted rate. The buyback will be financed with 10 billion euros from the rescue package. It has to be concluded by December 13 for Greece to secure 30 billion euros of agreed bailout money.
China's manufacturing activity rose to a seven-month high in November on improved new orders and production, mirroring signs of stabilization in the second-largest economy.
The Purchasing Managers' Index rose to 50.6 from 50.2 in October, official survey jointly issued by the China Federation of Logistics and Purchasing and the National Bureau of Statistics showed Saturday. The sector expanded for the second straight month.
The downturn in the Eurozone manufacturing sector eased as estimated in November, final data from Markit Economics showed. The final manufacturing Purchasing Managers' Index rose to an eight-month high of 46.2, in line with flash estimate.
The German manufacturing sector shrank as estimated earlier in November, but the rate of contraction eased from the previous month, final data from Markit Economics and BME showed revealed.
Meanwhile, the French manufacturing sector operating conditions continued to deteriorate in November, final data from Markit Economics showed.
The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.62 percent and the Stoxx Europe 50 index, which includes some major U.K. companies, is rising 0.45 percent.
The German DAX is gaining 0.4 percent and the French CAC 40 is rising 0.7 percent. The UK's FTSE 100 is advancing 0.3 percent and Switzerland's SMI is up 0.6 percent.
In Frankfurt, ThyssenKrupp is gaining 2 percent. Deutsche Boerse is advancing 1.5 percent and Fresenius is rising 1.3 percent.
Deutsche Bank is moderately up while Commerzbank is modestly down.
Duerr is gaining 2 percent. HSBC initiated the stock with a ''Neutral'' rating.
E.ON is losing around 1 percent. Carmakers BMW and Volkswagen are moderately lower.
Deutsche Bank initiated Euromicron with a ''Hold'' rating. The stock is up 0.2 percent.
In Paris, Alcatel Lucent is rising 3.9 percent. Deutsche Bank raised its price target on the stock.
Bouygues is gaining 3.7 percent and Vinci is rising 1 percent.
EADS is climbing 2.2 percent. The Airbus maker confirmed that key shareholders are discussing potential changes in the company shareholding structure and corporate governance.
Berenberg reduced its rating on Sanofi. The stock is up 0.2 percent.
Credit Agricole and Societe Generale are making gains while BNP Paribas is modestly down.
On the losing side is Renault, which is falling 1.9 percent. Carrefour is losing 1.3 percent.
In London, Schroders is rising 3.5 percent, leading the gainers. Reed Elsevier is adding 2.9 percent and Melrose is gaining 2.4 percent.
Cable & Wireless Communications has agreed with Batelco Group to sell majority of the businesses within its Monaco & Islands division for an enterprise value of $680 million. The stock is gaining 5.4 percent.
Hargreaves Lansdown is falling 2.4 percent and Tate & Lyle is losing 1.2 percent.
Swiss Life is falling 2.3 percent in Zurich after Merrill Lynch cut the stock to ''Underperform'' from ''Neutral.''
Aryzta is down 0.9 percent in Zurich. The Swiss bakery business reported a 9 percent growth in revenue for the first quarter, benefiting from positive currency translation effect.
Across Asia/Pacific, China's Shanghai Composite Index fell 1 percent and Hong Kong's Hang Seng dropped 1.2 percent. Australia's All Ordinaries, however, added 0.5 percent. Japan's Nikkei 225 also managed to end in positive territory by advancing 0.1 percent.
In the U.S., futures point to a higher open on Wall Street. In the previous session, stocks showed a lack of direction throughout much of the trading day on continued uncertainty about the looming fiscal cliff. While the Nasdaq slipped 0.1 percent, the Dow and the S&P 500 crept up less than a tenth of a percent each.
In the commodity space, crude for January delivery is losing $0.05 to $88.86 per barrel and February gold is advancing $5.4 to $1718.1 a troy ounce.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.