European Stock Markets Closed The Day With An Increase

European stock markets completed Tuesday with a gain. IMF's 2021 growth forecast reflected positively on stock markets.

European stock markets closed the day with an increase due to the economic data coming from China and the upward revision made by the International Monetary Fund (IMF) in its growth forecast for 2021. At the end of the day, the benchmark index Stoxx Europe 600 rose to 435.26 points with an increase of 0.70 percent. In England, the FTSE 100 index increased by 1.28 percent to 6,823.55 points, in Germany the DAX 30 index rose to 15,212.68 points with 0.70 percent appreciation, in France the CAC 40 index was 6,131.34 with 0.47 percent gain points, the FTSE MIB 30 index in Italy rose to 24,761.12 points with a value gain of 0.21 percent. While the IMF raised its global growth forecast for 2021 from 5.5 percent to 6 percent, it stated that the high uncertainty surrounding the global economic outlook depends primarily on the course of the coronavirus (Covid-19) epidemic. In China, Caixin/Markit service purchasing managers index (PMI) data increased from 51.5 to 54.3 in March. This level has attracted attention as it is the highest level seen in the service sector in China since December 2020. In PMI data, which is defined as leading data, above the level of 50 is accepted as "sectoral growth" and below this level as "sectoral contraction".