\n Share:<\/span><\/p>\n European equity indexes broadly climbed on Wednesday after a surprise upside in the Manufacturing component of the pan-European and German Purchasing Managers\u2019 Indexes (PMI), with stocks<\/a> getting a further boost from a global rally in tech-based stocks.<\/p>\n A slate of better-than-expected earnings concentrated in the tech sector helped to lift European equities on Wednesday, with markets rallying across the board after Manufacturing PMIs for both the euro area and Germany beat expectations, with investors shrugging off a broad-base miss in the Services PMI component.<\/p>\n Eurozone HCOB Composite PMI improves to 47.9 in January vs. 48 expected<\/a><\/p>\n The pan-European HCOB Manufacturing PMI<\/a> for January came in at 46.6, still in contraction territory but above the forecast increase from 44.4 to 44.8, and Germany\u2019s Manufacturing PMI fared equally well, driving to an eleven-month high of 45.4 versus the forecast uptick from 43.3 to 43.7.<\/p>\n The European Services PMI backslid to 48.4 from 48.8, missing the forecast increase to 49.0, but the slight shift in the services sector was brushed off by EU investors piling back into stock bids after weeks of waffling index prices.<\/p>\n Thursday brings another rate call and monetary policy statement from the European Central Bank<\/a> (ECB), and European markets will have to grapple with how dovish or hawkish ECB President Christine Lagarde<\/a> strikes at the ECB\u2019s first scheduled meeting after ECB policymakers hammered down on market rate cut hopes last week. ECB President Lagarde and several central policy planners have made several speaking appearances in recent weeks to try to quell market hopes of fast and furious rate cuts, and the ECB has loudly telegraphed their current stance that there will be no moves on rates until the summer months at the earliest.<\/p>\n\n
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