European stock markets traded mostly higher on Thursday, rebounding from the biggest one-day drop in more than a month, as Chinese data showed the services sector expanded at the fastest pace in six months in September.
The Stoxx Europe 600 index added 0.1% to 311.17, after closing 0.7% lower on Wednesday.
The U.K.’s FTSE 100 index added 0.3% and Germany’s DAX 30 index gained 0.1%, while France’s CAC 40 index fell 0.2%.
European indexes, however, were mostly higher, taking inspiration from Asia, where stocks moved higher after an encouraging reading on activity in the service sector in China.
EU data released showed the services PMI results in the euro area, France and Italy surprised investors in September while the German reading missed the median. Later report said EU Retail Sales improves to 0.7% in August versus +0.2% expected.
In UK the Halifax House Prices grew 0.3% in Septemnber, following a 0.4% increase the previous month. Analysts expected more growth of 0.5%. On an annual basis Halifax House Prices climbed 6.2% in September, after rising 5.4% in August and below consensus of +6.4%.
A separate report showed the Services PMI in the UK economy surpassed expectations at 60.3 vs. 60.0, although the print came in lower than August’s 60.5.
Shares of BP PLC climbed 1.2% after a U.S. court halted some settlements related to claims over the oil spill in the Gulf of Mexico in 2010.
On a more downbeat note, shares of Schneider Electric SA lost 1.7% after Exane BNP Paribas cut the firm to neutral from outperform.
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