# European shares steady ahead of PMI data
Published: 2023-01-24
Category: Investment
Category URL: https://business.express/category/investment/
Meta Title: Stay updated on latest stock market trends in Europe with
Meta Description: Stay updated on latest stock market trends in Europe with tech stocks leading the way and positive economic data on the horizon. Read more!
URL: https://business.express/european-shares-steady-ahead-of-pmi-data/

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qsmfaw001wwirgq3ggueqg/images/2023-01-24t082742z1lynxmpej0n07yrtroptp4europe-stocks-1737026668846-compressed.jpg)

(Reuters) – European stocks edged higher on Tuesday, boosted by a fresh run of gains for technology stocks, while investors awaited economic data that is expected to show a slight improvement in euro zone business activity.

The pan-European STOXX 600 index rose 0.1% after a strong finish on Wall Street, lifted by tech stocks that were battered last year in the wake of surging interest rates.

S&P Global’s flash reading, due at 0900 GMT, is expected to show the euro zone flash composite PMI edged up to 49.8 in January, a small improvement from 49.3 in December, as energy prices dropped and inflation moderated.

Among stocks, Rheinmetall added 1.2% after the German defence group’s chief executive forecast sales would grow to 11-12 billion euros ($12-$13 billion) in 2025, according to German magazine Stern.

Swatch Group edged up 0.8% after the Swiss watchmaker said it was positive about a recovery in the China market and also reported a 2.5% increase in 2022 sales.

Shares of Norwegian salmon farmers SalMar and Mowi jumped 4.7% and 9.1%, respectively, to top the STOXX 600.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D’Souza)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---