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European shares rise on upbeat China factory data

Published 11/01/2019, 04:20 PM
Updated 11/01/2019, 04:24 PM
European shares rise on upbeat China factory data
DE40
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DANSKE
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DSV
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STOXX
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SXPP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Nov 1 (Reuters) - European shares rose on Friday, as a
surprise bounce in China's manufacturing activity calmed
investors worried about the progress in U.S.-China trade talks
due to conflicting tones.
The pan-European STOXX 600 index .STOXX rose 0.3% at 0810
GMT, led by China-exposed German stocks .GDAXI gaining 0.4%.
China's factory activity unexpectedly expanded at the
fastest pace since 2017, raising optimism for the health of the
world's second-largest economy. Miners .SXPP recouped their losses from the previous
session and led the gains for the benchmark index.
Danish companies stood out on the earnings front. Transport
and logistics services company DSV Panalpina DSV.CO rose 6% to
the top of the STOXX 600 index after reporting strong
third-quarter results despite challenging conditions in the
freight market.
On the other hand, Denmarks's biggest lender Danske Bank
DANSKE.CO slid 6% after narrowing its annual profit outlook as
the tainted Scandinavian lender grapples to restore trust after
being involved in one of the world's biggest money laundering
scandals.

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