European stocks were moving higher on Wednesday, as upbeat manufacturing and non-manufacturing data from China helped offset investor concerns over stubborn inflation and fears of further U.S. interest-rate hikes.
Closer home, the euro zone final manufacturing PMI for February came in at 48.5, matching the initial estimate. Separate data showed Germany’s jobless rate held stable at low levels in February.
The pan-European STOXX 600 was up 0.1 percent at 461.76 after declining 0.3 percent on Tuesday.
The German DAX and France’s CAC 40 index both gained around 0.4 percent, while the U.K.’s FTSE 100 was up 0.3 percent.
Miners Anglo American, Antofagasta and Glencore jumped 3-5 percent in London on China optimism. Oil & gas firm BP Plc rose over 1 percent and Shell added 1.1 percent.
Aston Martin Lagonda, a maker of luxury sports cars and grand tourers, soared 14 percent after it turned to profit in the fourth quarter with strong sales.
Housebuilder Persimmon plunged 10 percent after reporting a fall in annual pre-tax profits and forecasting lower completions in 2023.
Ricardo, an engineering and environmental consultancy, declined 2.2 percent as it reported a loss for the first half of 2022, compared with a profit last year, amidst higher costs and expenses.
Euronext N.V. shares surged 5 percent in Paris. The pan-European market infrastructure group said it has withdrawn its indicative offer for Allfunds Group PLC to buy its 100 percent share capital. Allfunds shares were down 13 percent in Amsterdam.
French luxury firms LVMH and Kering rose about 2 percent each on hopes that China’s recovery can offset a global slowdown.
BNP Paribas slumped 4 percent after reports that Belgium was preparing the sale of a third of its 7.8 percent equity stake in the French bank.
German sportswear maker PUMA tumbled 3 percent after saying it expects cost pressure on margins to persist in 2023.
Nordex Group rallied 2.7 percent on bagging two orders for a combined total of almost 110MW in Sweden and Finland from wpd.
Nivea maker Beiersdorf fell 2.5 percent after warning of lower organic growth sales this year.
Vestas Wind Systems A/S advanced 2.7 percent. The company has signed a conditional agreement for two wind power projects in Brazil with a combined capacity of 1.3 GW.
Just Eat Takeaway.com N.V., Europe’s largest meals delivery company, plummeted 8 percent after widening its FY22 attributable loss.
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