Athens’ ATG index rose 1.2 percent, lifted by gains of around 20 percent in Alpha Bank and Eurobank, while Piraeus Bank and National Bank of Greece were up more than 5 percent.
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Oil prices and Asian stock markets fell after China’s factory activity fell for an eighth month in October, albeit at a slower pace, pointing to continued sluggishness in the world’s second-largest economy.
Turkish markets surged after the Islamist-rooted AK Party won a clear majority in Sunday’s parliamentary election. But yields were a touch lower on Tuesday, with investors anticipating a possible reiteration of recent dovish comments from European Central Bank President Mario Draghi, who is due to give a speech on cultural issues this evening in Frankfurt but could comment on monetary policy on the sidelines.
The Caixin figures followed Sunday’s official survey, which showed activity in China’s manufacturing sector unexpectedly contracted in October for a third straight month.
The Dow Jones industrial average .DJI rose 88.46 points, or 0.5 percent, to 17,752, the S&P 500 .SPX gained 13.5 points, or 0.65 percent, to 2,092.86 and the Nasdaq Composite .IXIC added 46.10 points, or 0.91 percent, to 5,099.85.
In commodities, oil was weighed by the prospect of weak Chinese demand and record-high Russian production.
MSCI’s main Asia-Pacific index.MIAPJ0000PUS, which tracks shares in key markets in the Asia Pacific region, touched its lowest level in two and a half weeks after the China data.
The dollar was down 0.1 per cent against a basket of its peers.
The dollar had been rallying in the last few weeks on expectations that the euro zone would continue to add to monetary stimulus while the U.S. Federal Reserve is seen tightening policy soon, perhaps as early as December.
In an interview with the Italian newspaper Illinois Sole 24 Ore published on Saturday, he said it was an open question whether further stimulus was needed.
The dollar gained 0.1 percent to 120.72 yen JPY= after the Institute for Supply Management Manufacturing Purchasing Managers’ Index showed slight manufacturing growth in October.
European shares had a positive start to the week after business surveys (PMIs) from around the eurozone beat expectations, while Commerzbank’s better-than-expected results brightened a mixed picture for earnings season. German 10-year yields rose 4.4 basis points to 0.57 per cent. Italian and Spanish equivalents rose 8.7 and 8.5 bps to 1.57 and 1.77 per cent respectively.
Consumer prices in the 19-country euro zone slipped by 0.1 percent in September, far from the bank’s aim of just below 2 percent, prompting calls for the ECB to expand or extend its 60 billion euros ($66 billion) a month of asset purchases.
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Bond yields rose on the prospect of higher US interest rates, after the Federal Reserve left the door open last week to a first increase since 2006 in December. It last traded at $1,139.25.
