European shares were broadly higher on Thursday, rebounding after several days of losses, as upbeat data from Europe and China offset negative sentiment in global markets on Fed "tapering" fears.
The FTSEurofirst 300 Index rose as Germany and the euro zone bloc posted better-than-expected flash estimates for business sector activity in August.
The composite figure for Germany climbed to 53.4 in August from 52.1 in July. The DAX surged higher on the news, trading over 1 percent higher, with the euro also climbing against the dollar.The figures for the euro zone also beat expectations with the composite number rising to 51.7 in August against 50.5 for July.
"They're certainly good numbers and we've been seeing this for the last four or five months in Europe," Richard Jerram, chief economist at the Bank of Singapore, told CNBC. "It does seem that as the headwinds from fiscal tightening fade then the economies are starting to lift."
Read more: Europe holds onto strong gains as data beats
The FTSEurofirst 300 Index rose as Germany and the euro zone bloc posted better-than-expected flash estimates for business sector activity in August.
The composite figure for Germany climbed to 53.4 in August from 52.1 in July. The DAX surged higher on the news, trading over 1 percent higher, with the euro also climbing against the dollar.The figures for the euro zone also beat expectations with the composite number rising to 51.7 in August against 50.5 for July.
"They're certainly good numbers and we've been seeing this for the last four or five months in Europe," Richard Jerram, chief economist at the Bank of Singapore, told CNBC. "It does seem that as the headwinds from fiscal tightening fade then the economies are starting to lift."
Read more: Europe holds onto strong gains as data beats
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