European Stocks Close Higher Following Positive PMI Reading

European stocks finished higher on Thursday, supported by an improved investors’ sentiment following the release of positive economic data.

The STOXX Europe 600 index finished higher by 0.67% at 432.49 points, on the back of a 2% rise by the technology sector.

Earlier today, data showed that the manufacturing activity in the Eurozone expanded at the highest pace in record in March, with the IHS Markit Eurozone manufacturing purchasing managers’ index (PMI) surging last month to a final reading of 62.5 from 57.9 in February.

The French CAC40 index rose by 0.59%, while the German DAX index closed higher by 0.66%.

Meanwhile, the UK’s FTSE100 finished higher by 0.35%.