Europe opens higher ahead of PMI reports

Major European markets traded higher in Wednesday’s opening as investors awaited a fresh batch of economic data. Eurozone producer price data will be released today, as well as composite services PMIs from the United Kingdom and Germany and the euro area.

Tomorrow, UK voters will cast ballots in a general election where the Labour Party is expected to dominate.

The DAX increased 0.55% at the open. London’s FTSE 100 added 0.61% at 9:00 am CET. The CAC 40 rose 0.62% at the opening bell and the Euro Stoxx 50 rose by 0.59% at the same time.

The euro was flat against the dollar at 9:01 am CET, selling for $1.07483. The pound grew by 0.05% to go for $1.26873 simultaneously.