London--European stock markets rallied Wednesday in a positive start to the second quarter on the back of upbeat manufacturing data in China and the eurozone, dealers said.
In afternoon deals, London's benchmark FTSE 100 index of top companies rose 0.77 percent to 6,825.23 points and the CAC 40 in Paris added 0.97 percent to 5,082.44 points.
Frankfurt's DAX 30 index gained 0.71 percent to 12,051.01 points compared with Tuesday's closing level.
The European single currency also rose to $1.0775 from $1.0741 late in New York on Tuesday.
"The major European indices have begun to pick up on this first day of a new quarter, with the positive Chinese manufacturing data last night being joined by a strong set of figures from the eurozone," Spreadex analyst Connor Campbell told AFP.
Eurozone manufacturing activity accelerated sharply in March in a fresh sign of economic recovery, a key survey showed.
Markit Economics said its Purchasing Managers Output Index (PMI) for the 19-nation single currency bloc's manufacturing sector climbed to 52.2 points last month from 51 in February, according to a second estimate, putting it well above the 50-points boom or bust line.
That marked an upgrade from the initial March reading of 51.9 points.
"Better-than-expected eurozone PMIs helped to accelerate the momentum to the upside," noted analyst Markus Huber at broker Peregrine & Black.
AFP
