Good Data Propels Europe; Home Sales Hit Five-Year High

Good Data Propels Europe (CNBC)

Better-than-expected purchasing managers’ index (PMI) data for the euro zone led to further gains for European stocks and boosted the Euro to a one-month high. “Encouraging news,” said Howard Archer, an economist at IHS Global Insight. “With the euro zone purchasing managers surveys supportive to the view that the euro zone has finally stopped contracting and could very well eke out marginal growth over the second half of the year.”

Home Sales Hit Five-Year High (Reuters)

June saw the highest number of home sales in five years, marking the third consecutive month of growth for home sales. Compared to June 2012, last month’s sales were up 38 percent, the largest yearly rise in two decades.