European stocks rally, ignore weak China data

By FXStreet The European stocks followed Asian indices higher in early trading despite weak trade data out of China.

At the time of writing, the pan European blue chip Euro Stoxx 50 index rallied more than 3%. Germany’s DAX was up 2.6%, while France’s CAC was up 3%. UK’s mining heavy FTSE was up 1.2%.

Mining stocks like Anglo American and Rio Tinto were trading higher, tracking the gains in copper and nickel.

Asian stocks rallied on short covering and speculation of more central bank easing. Japan’s Nikkei ended up 7.1%; its biggest percentage gain since September. However, the Chinese indices weakened on dismal trade data release.
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Source:: FX Street