European stocks saw minimal movement on Thursday following the revelation of increased economic activity in the private sector of the eurozone. For the first time in ten months, there was expansion in March, with the services PMI in the eurozone improving from 50.2 in February to 51.5.
Contrarily, the producer price index saw a decrease in February of 1.0 percent and 0.9 percent respectively in the Eurozone and European Union, according to Eurostat, the European Commission's statistical office.
Expectations are high for the European Central Bank's announcement regarding its latest policy meeting.
At the close of the previous session, the pan-European STOXX 600 had risen marginally to 510.51, a 0.3 percent increase. The German DAX remained relatively unchanged but leaned slightly towards the positive, while France's CAC 40 increased by 0.2 percent. The U.K.'s FTSE 100 added 0.4 percent.
The British pound has made a recovery from its two-month low against the dollar, buoyed by encouraging U.K. manufacturing data and optimistic figures issued by the latest house price index. The fact that these indicators suggest a potential end to Britain's economic recession has contributed to the rebound.
According to post-seasonal adjustment data, The manufacturing PMI reached a 20-month peak, improving from 47.5 in February to 50.3, surpassing the initial estimate of 49.9.
In company news, Volvo Car AB's shares rose by 5 percent following the luxury car producer's considerable growth in vehicle sales, recorded in both March and the first quarter of the year. The pharmaceutical company, Basilea, saw a 7 percent increase in its stock price after gaining U.S. regulatory approval for Zevtera, an antibiotic used to treat various infections.
Shares of packaging company, Mondi, fell by 2.6 percent in London as merger discussions with DS Smith continue. Future, the specialist media platform, saw a 15 percent rise in its shares following its reported revenue growth in the second quarter.
Shares in sports betting and gaming company Entain increased by 2.5 percent. The company recently announced that its Chairman, Barry Gibson, would be stepping down by the end of September after four years in the role. The medical software company, Compugroup, saw its stock rise by 6.6 percent following an upgrade from Morgan Stanley to overweight.
