DAX Reaches September's High
European stock indexes are trading higher today, as investors' concerns about the US-China trade dispute have weakened. The German DAX stock index grew by 0.54% to trade at 12.393 level. Earlier today, the DAX reached 12.458 line and marked the highest level in September. The DAX has jumped 2.9% this week.
Germany’s economic expansion lost further momentum in September as growth in the manufacturing industry slowed to the weakest level in two years. German manufacturing PMI fell to 53.7 in September from 56.1, missing the estimate of 55.7 points. This marked the weakest reading since August 2016. Meanwhile, the German Flash Final Services PMI rose to 56.5, above the estimate of 55.1 points.
Markit's flash composite Purchasing Managers' Index (PMI), which tracks the manufacturing and services sectors that together account for more than two-thirds of the economy, fell to 55.3 from 55.6 the previous month.