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Trackinsight: European Markets ETFs investors spooked by latest PMI Data

01/24/2022 | 10:00am EDT

The IHS Markit Eurozone Composite PMI declined to 52.4 in January 2022 from 53.3 in the previous month and slightly below market expectations.

The IHS Markit Eurozone Composite PMI declined to 52.4 in January 2022 from 53.3 in the previous month and slightly below market expectations of 52.6, a "flash" estimate showed on Monday. The latest reading pointed to a second consecutive month of slowing growth in business activity, with the pace of expansion hitting an 11-month low, as the services sector was hit by renewed COVID-19 restrictions. On the other hand, manufacturing production rose the most in five months amid signs of alleviation of supply chain delays.

The PMI weighed on market sentiment, pulling down European equity markets in the red. The EURO STOXX 50 and STOXX 600 indices fell by over -2% (11:40 AM, GMT +1). At the same time, investors remained cautious ahead of the US Federal Reserve's policy statement due Wednesday, with officials set to signal their first interest-rate hike since 2018.

ETFs tracking the EURO STOXX 50 and STOXX 600 tagged along, including iShares STOXX Europe 600 UCITS ETFXtrackers Euro Stoxx 50 UCITS ETFLyxor Core STOXX Europe 600 UCITS ETF, and Amundi EURO STOXX 50 UCITS ETF among others ? dropping between -1% to -2.5%. Meanwhile, iShares STOXX Europe 600 Travel & Leisure UCITS ETF, Lyxor STOXX Europe 600 Travel & Leisure UCITS ETF, and Invesco STOXX Europe 600 Optimised Travel & Leisure UCITS ETF, took a bigger hit ? falling between more than 3%.

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Stocks mentioned in the article
ChangeLast1st jan.
AMUNDI 1.27% 51.85 Real-time Quote.-28.53%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.24% 0.6617 Delayed Quote.3.61%
BRITISH POUND / EURO (GBP/EUR) -0.10% 1.17653 Delayed Quote.-1.79%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.07% 0.729458 Delayed Quote.4.34%
EURO STOXX 50 0.81% 3677.1 Delayed Quote.-15.14%
INDIAN RUPEE / EURO (INR/EUR) -0.08% 0.012063 Delayed Quote.1.94%
INVESCO LTD. 0.92% 18.62 Delayed Quote.-19.11%
LONDON BRENT OIL 0.15% 114.49 Delayed Quote.45.50%
SILVER -1.02% 21.7458 Delayed Quote.-5.07%
STOXX EUROPE 600 0.63% 434.31 Delayed Quote.-11.53%
STOXX EUROPE 600 NR 0.65% 994.55 Delayed Quote.-10.06%
US DOLLAR / EURO (USD/EUR) 0.10% 0.936654 Delayed Quote.5.94%
WTI 0.12% 110.913 Delayed Quote.45.58%
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