France’s services PMI in September

According to data provided by Markit Economics, the final Markit France services PMI (purchasing managers’ index) stood at 57.0 in September 2017 compared to 54.9 in August 2017. This beat the initial estimate of 56.0.

France’s Services PMI Strengthened in September after a Gradual Fall

In September 2017, France’s services PMI strengthened after a gradual decline in the last three months. The performance of France’s services PMI in September was mainly due to the following factors:

  • Production volume and output rose at a stronger rate in September 2017.
  • New business orders and export orders showed faster improvement in September 2017.
  • The job growth in the service sector also rose in the same month.

Performance of various ETFs in September

The iShares MSCI France ETF (EWQ), which tracks France’s performance, rose 4% in September 2017. The iShares MSCI Eurozone ETF (EZU), which tracks the performance of the Eurozone (HEDJ)(FEZ)(IEV), rose nearly 3.5% in that month.

The strong performance in major ETFs and the market indicates that the overall economic condition is improving in France. The domestic economy is changing, and the demand outlook is improving, which is a positive measure for various corporates. France’s business confidence index also stood at 110 points in September, compared to 111 points in August.

However, the business confidence index has been improving gradually since July 2016. The rising business confidence index signals that businesses are optimistic about the demand outlook for the economy.

In the next part of this series, we’ll analyze the services PMI for Spain in September 2017.

Latest articles

Shares of the J.M. Smucker Company (SJM) are up 29.8% year-to-date as of June 24 and have outperformed the broader markets. The company's acquisition of Ainsworth Pet Nutrition and its focus on high-growth categories via divestitures have supported its stock so far this year.

On June 25, General Motors (GM), America’s largest auto company, announced its plan to invest $20 million into its Arlington Assembly plant in Texas, according to Reuters. With the new investment, the company aims to upgrade its equipment before launching its full-size SUVs.

Shares of high-growth technology company ServiceNow (NOW) have gained close to 16.0% since April 2019. It's gained over 60.0% since the start of 2019. It also had an encouraging run in 2018, when it gained 32.0% in market value.

25 Jun

Ford to Announce Q2 US Sales on July 3: What to Expect

WRITTEN BY Jitendra Parashar

Earlier today, Ford (F) said that it would announce its second-quarter US sales data on July 3. In the first quarter, the company reported a 1.6% YoY decline in its US sales to 590,249 vehicle units. During the first quarter, Ford’s truck sales rose by 4.1%, and its SUV sales went up by 5.0% on a YoY basis.

On June 25, Credit Suisse initiated coverage on Chipotle Mexican Grill with an “outperform” rating and a target price of $870—a return potential of 20.1% from its stock price of $724.13 on June 24.

Tencent Music Entertainment has generated returns of 14.3% in June. Despite its recent rally, it's fallen 16.4% since April this year. TME is currently trading at $15.13 and is up 14.5% YTD (year-to-date).

172.31.38.64