UPDATE 1-European Factors to Watch-China data seen lifting European shares

miércoles 12 de febrero de 2014 03:30 GYT

LONDON Feb 12 (Reuters) - European equity futures rose on Wednesday, buoyed by better-than-expected Chinese trade data and by overnight gains on Wall Street after authorities agreed to extend the United States' borrowing authority.

The euro zone's blue-chip Euro STOXX 50 futures contract rose 0.3 percent by 0725 GMT, Germany's DAX futures contract rose 0.4 while France's CAC futures advanced by 0.2 percent.

Many investors have expressed concerns about a possible economic slowdown in China, but data on Wednesday showed that the value of China's overall imports and exports climbed around 10 percent last month from a year ago and beat expectations, raising optimism over the world's second-largest economy.

Traders also said European markets would be helped by a strong close overnight on Wall Street, after Congress agreed to advance legislation extending U.S. borrowing authority and the Federal Reserve's new chief Janet Yellen held off from making any changes to its schedule for trimming stimulus.

"We're firmer this morning on the back of Yellen and the China data," said Darren Courtney-Cook, head of trading at Central Markets Investment Management.

Among major companies reporting results, French bank Societe Generale swung back to a profit but oil major Total reported lower profits.

According to Thomson Reuters StarMine data, out of the companies on the pan-European STOXX 600 index to have reported fourth-quarter results so far, 59 percent have posted earnings that have either beaten or met market estimates. ------------------------------------------------------------------------------ > GLOBAL MARKETS-Yellen, upbeat China trade report buoy risk assets

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