PMI manufacturing index up in June across Europe; the Euro is up 0.25% against its major rivals.

[RTFX-Trading]

PMI manufacturing index up in June across Europe; the Euro is up 0.25% against its major rivals.

Activity in the manufacturing industry during the month of June appreciated throughout Europe. In Germany, the PMI index rose for the fifth consecutive month and reached an eight month high of 40.9. In England, the PMI was rose to 47.0, the fourth consecutive month of improvement and its highest level since May 2008. In the Euro zone, the index reached 42.6, its highest level since September 2008. In France, PMI continues its recovery to 45.9, the highest in eleven months. These figures show a better than expected recovery in activity of purchasing managers, however, a figure below 50 still indicates a contraction in activity.

Investors welcomed these encouraging figures; the Euro was up 0.22% against the Dollar at 1.4070, 0.70% against the Yen to 136.16 and 0.38% against the Pound at 0.8558.



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