LONDON (ShareCast) - -China data nudges markets up
-Air France flat on turnaround plan

FTSE-100: +0.32%
Dax-30: +0.72%
Euro Stoxx 600: +0.27%
SMI: +0.22%
Cac-40: +0.14%
IBEX: -0.77%
FTSE MIB: -0.58%

There was a north south divide opening up amongst the major European indices shortly after the open - northern Europe was marching upwards, southern Europe beating an early retreat.

The news flow appears broadly positive, certainly a purchasing managers' index from China’s National Bureau of Statistics rose from 51 in February to 53.1 in March. However, economists have noted this data often shows an uplift at this time of year, whereas a similar measure from HSBC fell last week.

COMPANIES

The biggest gainers in France were luxury goods maker LVMH (+1.9%) and oil major Total (+1.8%). Total is preparing to return to the Elgin platform in the North Sea which suffered a leak last weeks.

In Germany car maker BMW (+1.9%) and sports firm Adidas (+1.8%) were the leading stocks shortly after the open.

In Spain, Red Electrica (+4.2%) continued its recent climbs as power price increases take effect across its national electricity network.

Air France-KLM shares were flat by 09:40 in Paris despite the company saying it was to increase flying hours for its staff and expand the operations of its low cost Transavia arm as it seeks to return to profitability by 2014.

OTHER MARKETS

Brent Crude futures for May had gained 0.17% by 08:45 London time.

The euro was 0.14% up against the dollar at 08:59 London time at $1.3363.

BS

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