Data released in the European session on Monday, the opening session of the week, showed divergence in most of the services and manufacturing PMIs in the eurozone and the UK in the preliminary reading for March. The services PMI fell to a four-month low of 50.4 in March, compared to 50.6 in November. Meanwhile, the manufacturing PMI rose to a 26-month high of 48.7, up from 47.6 in February.

In detail, the French services PMI rose to 46.6 in March, up from 45.3 in February, marking its highest reading in two months, better than expectations of a rise to 46.3. Meanwhile, the manufacturing PMI rose to 48.9 in March, its highest level in 26 months, compared to 45.8 in February (expectations: 46.2).

From Germany, the services index fell to a four-month low of 50.2 in March, compared to 51.1 in February, falling short of expectations of 52.3. The manufacturing index rose to 48.3, compared to February’s reading of 46.5, its highest reading in 31 months.

Data from the United Kingdom was mixed, with the manufacturing index falling to 44.6, its lowest level in 17 months, compared to February’s reading of 47.3. Meanwhile, the services index rose to a seven-month high of 53.2, compared to February’s reading of 51.2 (expected).