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European stocks rise, ignore China data

FXStreet (Mumbai) - The stock markets in Europe strengthened moderately on Wednesday despite the slump in the Asian markets on the back of a weak China manufacturing data.

The pan-European Euro Stoxx 600 index advanced 0.42% to 348.13 levels. The Euro Stoxx 50 index also advanced 0.3%. Among regional indices, Germany’s DAX gained 0.57%, France’s CAC strengthened 0.3%. London’s FTSE index advanced 0.78%.

Among the Euro Stoxx 600 stocks, Volkswagen strengthened 1.32%, erasing early losses despite an emission scandal escalation. Shares in British alcoholic drinks maker Diageo added 0.2% after the company said it started the year well with performance in line with its expectations.

In Asia, equities slid deeper into the red on Wednesday, after a preliminary reading of activity in China's mammoth manufacturing sector fell to a six-and-a-half-year low of 47.0 in September.

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