European stocks traded higher Wednesday morning as investors digested another round of major corporate earnings reports, but weaker-than-expected euro zone economic data capped gains, CNBC reports. The pan-European Stoxx 600 was up 0.4 percent by mid-morning, paring earlier gains after July’s final euro zone PMI (purchasing managers’ index) reading came in at a modest 56.5, with the bloc’s dominant services sector showing a weaker rebound than expected. Travel and leisure stocks climbed by 1.6 percent to lead gains while food and beverage stocks slid by 0.5 percent lower.

Source: The Standard August 05, 2020 09:22 UTC