European stocks rise, with Nike rivals and auto makers advancing

People wearing face masks wait in line in front of a medical laboratory to get tested for COVID-19, in Paris, France, on September 18, 2020.


olivier morin/Agence France-Presse/Getty Images

European stocks rose on Wednesday, as investors brushed off a mixed batch of purchasing managers data and shares of sportswear makers and automobile makers rose.

The Stoxx Europe 600 index
SXXP,
-0.81%

rose 1.1% to 361.58, after rising 0.2% on Tuesday. The German DAX
DAX,
-0.23%

climbed 1.4%, the French CAC
PX1,
-0.51%

rose 1.6% and FTSE 100 index
UKX,
-1.10%

gained 1.7%.

The euro
EURUSD,
-0.15%

fell 0.1% against the dollar, while the pound was even weaker
GBPUSD,
+0.08%
,
dropping 0.3%. Dollar strength can help European and U.K. exporters by making their prices more competitive overseas.

The IHS Markit flash eurozone manufacturing purchasing managers index rose to 53.7 from 51.7, while the services PMI dropped to 47.6 from 51.9

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European stocks rise, with Nike rivals and automakers advancing

EUROPE MARKETS

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olivier morin/Agence France-Presse/Getty Images

European stocks rose on Wednesday, as investors brushed off a mixed batch of purchasing managers data and shares of sportswear makers and automakers rose.

The Stoxx Europe 600 index (XX:SXXP) rose 1.1% to 361.58, after rising 0.2% on Tuesday. The German DAX (DX:DAX) climbed 1.4%, the French CAC (FR:PX1) rose 1.6% and FTSE 100 index (UK:UKX) gained 1.7%.

The euro (EURUSD) fell 0.1% against the dollar, while the pound was even weaker (GBPUSD) dropping 0.3%. Dollar strength can help European and U.K. exporters by making their prices more competitive overseas.

The IHS Markit flash eurozone manufacturing PMI rose to 53.7 from 51.7, while the services PMI dropped to 47.6 from 51.9 in September. The composite PMI barely above 50, indicating a hit to the overall economy as coronavirus cases increased across the region. But there were some improvements in manufacturing.

Elsewhere, data

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