VIENNA (dpa-AFX) - European shares rebounded from 13-month lows on Tuesday after official data showed China's economy grew 6.9 percent in 2015, just short of the government's 7 percent target and its slowest pace in 25 years, putting pressure on policymakers to unveil more fiscal and monetary measures.
Investors heaved a sigh of relief that the drop was not as bad as expected. The pan-European Stoxx Europe 600 index was up 1.8 percent after closing down about 0.4 percent the previous day.
The German DAX was rallying 2 percent, France's CAC 40 was gaining 2.1 percent and the U.K.'s FTSE 100 was moving up 1.7 percent.
Laundry and homecare leader Henkel added 1.9 percent in Frankfurt after appointing Hans Van Bylen as its CEO.
Software AG soared 11 percent after its adjusted earnings before interest, tax and amortization rose 4 percent in the fourth quarter from a year earlier.
Miners rebounded after recent losses, with Antofagasta, BHP Billiton and Anglo American climbing 4-9 percent in London.
Prudential Plc jumped 2.8 percent after appointing a new head for its UK business.
Unilever shares advanced 1.8 percent despite the Anglo-Dutch consumer goods giant warning of high volatility in 2016.
Lender Credit Agricole soared 3.7 percent in Paris after saying it is considering selling stakes in over three dozen regional banks to bolster capital and help finance its dividends.
In economic releases, German consumer inflation eased to 0.3 percent in 2015, its lowest level since 2009, from 0.9 percent in 2014, data from Destatis showed.
A gauge of German economic confidence fell to a 3-month low in January and Eurozone construction output increased for the second straight month in November, while U.K. house price inflation accelerated for the fourth straight month in November to the highest level in eight months.
The euro area current account surplus rose to 26.4 billion euros in November from 25.6 billion euros in October, largely due to a rise in primary income.
Elsewhere, Asian stocks reversed early losses to end higher after China's GDP data pointed to no hard landing.
U.S. stock futures pointed at a gap-up opening on Wall Street later in the day as trading resumes following the Martin Luther King Day holiday.
Copyright RTT News/dpa-AFX