European shares gain after Chinese data

lunes 2 de junio de 2014 04:14 GYT

* FTSEurofirst 300 index up 0.3 pct

* Chinese factory activity lifts miners

* Strong PMIs help Spain but weakness returns to France

By Alistair Smout

EDINBURGH, June 2 (Reuters) - European shares started the month positively on Monday, buoyed by strong economic data from China that helped to allay concerns about growth rates in the world's biggest metals consumer.

Basic resources stocks, including miners and other commodity companies, rose 1.3 percent, the biggest sectoral gainer, after data showed Chinese factory activity expanded at its fastest pace in five months in May.

"Chinese data was a shade better than expected; it will prove a little bit of a boost," Alastair McCaig, analyst at IG, said.

The pan-European FTSEurofirst 300 index rose 0.3 percent to 1,381.29 by 0800 GMT, more than recouping Friday's slight dip.

The CAC index underperformed, down 0.1 percent, as data showed France's manufacturing sector fell back into contraction having recorded its first two months of growth since 2011 in March and April.   Continuación...