BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were mostly higher on Thursday as Chinese markets extended their winning streak to the eight day on hopes of a faster recovery for the world's second largest economy.
The day's economic data proved to be a mixed bag. China's consumer inflation inched up last month, but factory gate prices fell for a fifth straight month amid sluggish demand, separate reports showed.
German exports rebounded less than expected in May despite the lifting of lockdown measures.
Investors await a crucial meeting of euro zone finance ministers later today as the continent faces the worst recession in EU history.
Coming ahead of next week's EU leaders' summit, the Eurogroup will elect their new president and will find ways to secure adequate funding to push through recovery plans for the region.
The pan-European Stoxx Europe 600 index edged up 0.2 percent to 367.15 after declining 0.7 percent on Wednesday.
The German DAX rose over 1 percent and France's CAC 40 index was marginally higher while the U.K.'s FTSE 100 was down half a percent.
Europe's largest technology company SAP surged 7.5 percent after posting better-than-expected quarterly results. Infineon Technologies advanced 2.2 percent and Dialog Semiconductor added 1.2 percent.
Siemens AG gained about 1 percent. The industrial conglomerate announced that its shareholders will vote on its proposal to spin off 55 percent of Siemens Energy to them.
Commerzbank dropped nearly 2 percent. The bank said that its supervisory board accepted the resignation of its chief executive officer at a meeting.
Rolls-Royce shares slumped 8.2 percent. The jet engine maker said that its Civil Aerospace business has experienced a significant fall in demand due to the coronavirus pandemic during the first half.
Primary Health Properties lost about 4 percent after unveiling fund raising plans to fund new developments.
Housebuilder Persimmon jumped 5.2 percent after reporting a fall in half-year revenue.
Denmark's Pandora surged 5.6 percent after lifting its profit forecast for the second quarter.
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