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London - A Madrid report said on Monday that Spanish stocks outperformed flat European bourses as a rebound in the Spanish economy lifted the Madrid market and propped up European markets after weak Chinese data.
The pan-European FTSEurofirst 300 index slipped 0.1% to 1 311.08 points in early session trading, while the euro zone's blue-chip Euro STOXX 50 index advanced by 0.1% to 3 083.33 points.
Asian stock markets fell overnight after data showed that growth in China's services sector had slowed sharply last month, raising concerns about the pace of recovery in the world's second-largest economy.
A rise in Spain's IBEX stock market helped prop up the broader pan-European equity indexes after data showed that Spain's service sector registered its fastest pace of growth in 6½ years in December.
The data lifted Spanish banks Santander and BBVA by between 1.2-1.4%, while the Spanish IBEX stock market rose 0.5%.
Italy's FTSE MIB equity index - another "peripheral" European market that is slowly recovering from the effects of the euro zone's sovereign debt crisis - also rose 0.6%.
The pan-European FTSEurofirst 300 index slipped 0.1% to 1 311.08 points in early session trading, while the euro zone's blue-chip Euro STOXX 50 index advanced by 0.1% to 3 083.33 points.
Asian stock markets fell overnight after data showed that growth in China's services sector had slowed sharply last month, raising concerns about the pace of recovery in the world's second-largest economy.
A rise in Spain's IBEX stock market helped prop up the broader pan-European equity indexes after data showed that Spain's service sector registered its fastest pace of growth in 6½ years in December.
The data lifted Spanish banks Santander and BBVA by between 1.2-1.4%, while the Spanish IBEX stock market rose 0.5%.
Italy's FTSE MIB equity index - another "peripheral" European market that is slowly recovering from the effects of the euro zone's sovereign debt crisis - also rose 0.6%.
