Eurozone business activity slows on French vote risk

The rebound in euro-area private-sector business activity unexpectedly lost momentum as the outcome of France's snap election weighs on firms and manufacturing in the region recorded its worst month of the year. S&P Global's composite Purchasing Managers' Index fell to 50.8 in June. While that's a fourth straight reading above the 50 threshold that signals growth, analysts polled by Bloomberg had predicted an advance to 52.5.

Europe's economy remains in the early stages of a recovery from last year's mild recession. But while growth surpassed Q1 expectations, recent data have suggested momentum may be waning. The weaker-than-expected figures encouraged bets on cuts from both the European Central Bank and the Bank of England. Bloomberg