Germany's DAX share index gains after manufacturing data

lunes 4 de mayo de 2015 05:04 GYT
 

* Germany's DAX share index up 0.8 pct

* Syngenta gains on M&A report

* UK market closed

By Atul Prakash

LONDON, May 4 (Reuters) - Germany's benchmark share index climbed higher in morning trading on Monday after a survey showed that German manufacturing continued to expand.

Markit's purchasing manager's index for manufacturing, which accounts for about a fifth of the German economy, fell to 52.1 from 52.8 in March, but stayed above the 50 line separating growth from contraction for a fifth straight month. The final reading topped a preliminary estimate of 51.9.

"The German data shows that the manufacturing activity is still expanding and concerns that a recent rise in the euro would hurt German companies are definitely overdone. The German economic growth has been solid and gives support to the stock market," Christian Stocker, strategist at UniCredit, said.

"I think the majority of analysts will be revising their 2015-16 earnings forecasts higher during the next six months," he added.

Germany's DAX share index was up 0.8 percent at 0848 GMT. Many major European markets had closed on Friday for the May Day holiday. The UK market, which was open on Friday, was shut on Monday.   Continuación...