European Stock Markets Rally on Positive Data

Investors reacted positively to the latest business activity reports from the Eurozone, United Kingdom, and Germany, alongside services sector data from Italy, France, and Spain. This optimism was further bolstered by Germany's Destatis revealing a 2.6% increase in the country's annual inflation for December, signaling a robust economic environment.

Market Highlights

The DAX saw a significant uplift, with Infineon Technologies AG leading the charge with an 8.18% surge. Similarly, the FTSE 100 and CAC 40 enjoyed gains, with notable performances from Jd Sports Fashion plc and STMicroelectronics NV, respectively. The Euro Stoxx also climbed, propelled by ASML Holding NV's impressive 8.69% rise.

Currency Movements

On the currency front, the euro and pound both strengthened against the dollar, reflecting a positive outlook for European markets. The euro gained 0.93%, while the pound was up by 0.85% against the greenback.