European stocks end mixed after UK's prime minister speech on Brexit



Markets in Europe close mixed on Friday’s trade as investors digested a key speech from the UK’s Prime Minister on Brexit. The pan-European Stoxx 600 closed flat, up just 0.05% provisionally, with sectors moving in different directions.

The UK's FTSE 100 jumped 0.6% following a speech from Prime Minister May which gave little detail on how she wants a Brexit transition period to work. Sterling fell against the dollar on the speech, potentially boosting revenues at large U.K firms that deal in dollars.

In terms of data, French Q2 gross domestic product rose 0.5% from the previous quarter, on higher consumer spending. Corporate profit margins also increased slightly during the three-month period.

French flash PMIs (Purchasing Managers' Index) also showed Friday that both services and manufacturing activities increased in August to their highest level since May 2011.

Meanwhile, IHS Markit figures for the euro zone showed private businesses growing stronger in the third quarter of this year, mainly due to the manufacturing sector. The positive data boosted confidence that the European Central Bank will announce monetary tightening next month.


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