Activity in Spain's services sector hit eight-year high in April

Growth in Spain’s services sector accelerated sharply in April according to one of the most closely followed activity gauges.

Markit’s services sector purchasing managers’ index (PMI) jumped to a reading of 60.3 – its highest level since November 2006 – from the prior month’s level of 57.3.

Analysts had been expecting a reading of 57.4.