European equities rose on Tuesday, supported by a stronger reading of business activity in the Eurozone for September.
The HCOB Flash Eurozone Composite Purchasing Managers’ Index, produced by S&P Global, increased slightly to 51.2 from 51.0 in August, marking the ninth month in a row of expansion. However, new orders remained flat after a brief rise in August.
Growth in the services sector helped boost overall activity, but manufacturing slipped back into contraction, raising concerns about the sustainability of the recovery.
On the markets, France’s CAC 40 advanced 0.9%, Germany’s DAX gained 0.4%, and the U.K.’s FTSE 100 added 0.2%.
In corporate developments, home improvement retailer Kingfisher (LSE:KGF) surged after raising its full-year profit guidance. Travel operator TUI (TG:TUI1) also saw gains following an announcement of higher expected profits for fiscal 2025.
Engineering company Smiths Group (LSE:SMIN) climbed sharply after reporting stronger annual earnings and an increased dividend. Meanwhile, real estate investment trust Land Securities (LSE:LAND) jumped after reaffirming its annual outlook.
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