European Stock Market Reacts to PMI Data and Anticipates Jackson Hole

European shares rose on Thursday amid economic data from major economies. The STOXX 600 index went up by 0.5%. France's PMI hit a 27-month high at 55, while Germany's PMI was lower at 48.5. Investors are keenly awaiting the Federal Reserve's Jackson Hole conference for potential announcements on rate cuts.

European shares climbed on Thursday as investors analyzed a plethora of economic data from leading European economies. The pan-European STOXX 600 index saw a 0.5% rise, closing at 516.29 points.

France's PMI surged to a 27-month high of 55 in August, driven by an Olympics-fueled boost, while Germany's PMI fell to 48.5 indicating continued contraction. Britain's PMI also showed acceleration at 53.4, pushing the FTSE up by 0.3%.

Attention now shifts to the Federal Reserve's Jackson Hole conference, anticipated to shed light on possible rate cuts following optimistic hints in the Fed's July meeting minutes. Market experts note a cautious outlook for European stocks in comparison to U.S. equities.

(With inputs from agencies.)