French PMI at 55; German PMI at 48.5
Euro Zone PMI at 51.2
STOXX 600 up 0.5

Aug 22 Reuters European shares rose on Thursday as investors sifted through a wave of economic data from major European economies, while anticipating the start of the Federal Reserve39;s Jackson Hole conference later in the day.

The panEuropean STOXX 600 index rose 0.5 at 516.29 points.

SEA OF PMI DATA

Flash purchasing managers39; index PMI for the euro zone showed surprising strength in business activity in August, bouncing to 51.2, despite firms raising prices.

France39;s PMI surged to a 27month high of 55.0 in August, driven by a boost from the Olympics, and exceeding forecasts. This pushed the French benchmark CAC 40 up by 0.3.

Conversely, Germany39;s business activity contracted for the second consecutive month, and by more than expected, PMI data showed. The German benchmark DAX was unchanged, trading at 0.2

Britain39;s PMI was at 53.4, showing that business activity accelerated this month. The benchmark FTSE was up by 0.3.

Consumer confidence data for the Eurozone, the U.S. PMI and initial jobless claims figures all due later in the day will also be closely watched.

Overnight, the Nasdaq rose nearly 0.6, buoyed by the Fed39;s July meeting minutes that hinted at a potential rate cut in September.

Markets now await more details on the cut39;s size at the Jackson Hole conference, commencing later in the day. Chair Jerome Powell will deliver the keynote speech on Friday….