While the PMI composite index in France and Spain reached three-month highs of 44.3 and 43.4 respectively, Italy slumped to a three-month low of 44.4 in November.
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The chart of iShares MSCI France Index ( EWQ) on the bottom right looks very similar though its flag formation was completed last Thursday.
Chart Analysis : The iShares MSCI France Index ( EWQ) has 50% in its Top Ten holdings, a yield of 3.2%, and an expense ratio of 0.52%.
The U.K.'s FTSE 100 index rose 0.5% to 5337.00, France's CAC-40 index ended up 0.5% at 3026.76 and Germany's DAX added 1% to 5799.91.
Germany's DAX index rose 0.9% to 7144.45, while France's CAC-40 index finished 0.4% higher at 3580.21.
Some of this is likely to continue, says an executive at a company listed on the CAC 40, France's index of leading firms.
Emerging markets, however, continue to perform better than the MSCI Europe index, in particular Italy and France.
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There is also disturbing evidence that the weakness in the so-called periphery countries has spread to the 'core' - not just France, where the index reflecting new manufacturing orders fell to its lowest level since 2009, but also to Germany.
Consumer prices in Germany were 2.4% higher in November on the year while consumer prices in France were 2.2% higher, while the harmonised index of consumer prices showed a 2.2% rise in France and a 2.6% rise in Germany.
But even if a happiness index arrives, will it deliver what France would hope to see?
European markets gained, with the Stoxx Europe 600 up 0.9%, Germany's DAX index adding 1.8% and France's CAC-40 rising 1.4%.
Earlier, the major European markets had also closed down on Monday, with Germany's Dax index down 2.22% and France's Cac down 2.6%.
In fact, less than a week after MEGA launched, its users whether sloppy, defiant or just plain stupid have done just that and posted links to their own files on an index site (seemingly operated out of France) called MEGA-SEARCH.
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Britain's FTSE 100 lost 0.3%, Germany's DAX index dropped 1.0%, and France's CAC-40 fell 0.6%.
France's Cac-40 index was a rare exception - still losing on the year, but just half a percent.
Not a single one on France's CAC 40 share index or on Germany's DAX index is run by a woman.
The U.K.'s FTSE 100 index ended down 1% at 5871.51, Germany's DAX fell 0.5% to 6856.08 and France's CAC-40 index ended nearly flat at 3452.45.
In afternoon trading, the FTSE 100 index of leading British shares rose 4.56 percent, Germany's DAX index jumped 8.66 percent, and France's CAC-40 rose 3.15 percent.
In Europe, Germany's benchmark DAX index sunk a significant 10.8%, while France's CAC40 fell 10.0%.
In late morning trading, Germany's Dax index was down 1.7%, while both France's Cac and the UK's FTSE 100 were 1.1% lower.
The U.K.'s FTSE 100 index advanced 0.6% to 5864.78 and France's CAC 40 climbed 0.7% to 3450.27, with both indexes supported by gains in oil stocks as crude prices climbed.
Britain's FTSE 100 index ended the day 1.2%, lower, while France's CAC-40 sank 1.8%, and Germany's DAX closed down 1.3%.
EU-wide harmonised index of consumer prices, the gap between British inflation and those of France and Germany is smaller than on national measures.
The U.K.'s FTSE 100 index edged up 0.2% to 5483.81, but France's CAC-40 fell 0.6% to 3030.04 and Germany's DAX slipped 0.1% to 6152.49.
Britain's FTSE 100 share index was nearly flat, at 6, 279.30 points, France's CAC-40 ended the day 0.1%, lower at 5, 509.37, but the Dax index of 50 leading German shares closed up 0.3%, at 7850.74 points.
Germany's DAX 30 index gained 2.4% for its best day in five months, while France's CAC-40 jumped 3.6% for its biggest gain since last August.
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