Major stock indices in Europe on the rise

The stock indices in Western Europe are gaining, investors assess the statistical data from the euro zone and the reporting of large companies.

Procurement Managers Index (PMI) in manufacturing in the 19 euro-zone countries rose to 55.2 - its highest level in nearly six years. The value of the indicator above 50 points indicates strengthening business activity in this sector.

UK PMI for the production sector fell to 55.9 in January from two and a half year high of 56.1 in December. The index was in line with economists' expectations.

The composite index of the largest companies in the region Stoxx Europe 600 rose by 0.85% - to 363.17 points.

The price of Swedish auto maker Volvo jumped 6,4% as the company increased its profit last quarter by almost 2 times.

The market value of Siemens AG increased by 3.4%. Europe's largest industrial conglomerate increased its net profit in the 1st quarter and improved the outlook for the year as a whole.

Shares of Spanish bank BBVA rose 0.7%. The bank's profit in the last quarter fell by 28% - up to 678 million euros, which nevertheless turned out better than expectations (554 million euros).

Wizz Air Holdings reported a fall in net profit in the last quarter by 22%, despite revenue growth of 9%. On this news stock prices in early trading fell by 6.6%.

The capitalization of the Swiss pharmaceutical company Roche Holding AG rose by 1.1% due to an increase in profits in October-December by 8% and revenue by 5%.

Electrolux shares decreased by 1.4%. The company has returned to a profitable level in the 4th quarter, its profit amounted to 1.27 SEK and coincided with market expectations. Meanwhile, its revenue decreased by 1%.

At the moment:

FTSE 7150.34 51.19 0.72%

DAX 11645.41 110.10 0.95%

CAC 4802.53 53.63 1.13%