Tech stocks lead gains; Maersk rallies (Il Sole 24 Ore Radiocor) - Milan, 03 Jul - Traders also awaited the minutes of the Federal Reserve's June meeting due today, while key US labor market data is also on tap this week with nonfarm payrolls due on Friday.

Yesterday Fed chair Jerome Powell flagged some 'progress' in bringing down inflation, reinforcing expectations the central bank could soon cut interest rates and sending the S&P 500 and the Nasqaq Composite indexes to record highs.

On the data front, in June the eurozone's purchasing managers' index for the services sector fell to a three-month low of 50.9 from 52.2 in May, according to data released by S&P Global and Hamburg Commercial Bank.

The composite output index, a weighted average of services PMI and manufacturing output, also fell to a three-month low, down to 52.8 from 53.2 the previous month.

In May 2024, industrial producer prices in the eurozone decreased by 0.2% compared with the month earlier and were down by 4.2% compared with May 2023, according to data from European Union statistical office Eurostat.

In European stock market dealings with most sectors were in the green, led by tech shares.

Shipping giant Maersk rallied 3.27% after it withdrew from sales talks with logistics firm DB Schenker.

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(RADIOCOR) 03-07-24 13:40:01 (0380) 5 NNNN