European shares rise on upbeat China factory data

  • Reuters
  • Stock Market News
European shares rise on upbeat China factory data
Credit: © Reuters.

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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. .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. 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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