New Year, new high for euro zone stock markets

LONDON (Jan 3): Euro zone stocks opened 2017 by climbing to their highest in more than a year on Monday after data showed manufacturers in the currency bloc ramped up activity at the fastest pace in more than five years.

With all of Asia's major markets closed for the New Year holiday - along with Britain and Switzerland in Europe - trade was thin, which could cause some volatility. The United States and Canada will also be closed.

The euro zone's blue-chip Euro STOXX 50 index rose half a percent to its highest since December 2015 after the purchasing managers' index (PMI) for factories in the currency bloc came in at 54.9 - well above the 50 mark that separates growth from contraction.

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