* FTSEurofirst 300 slips 0.1 pct, ESTOXX 50 up 0.1 pct
* Spanish IBEX rises after rebound in Spain economy
By Sudip Kar-Gupta
LONDON, Jan 6 Spanish stocks outperformed flat
European bourses on Monday as a rebound in the Spanish economy
lifted the Madrid market and propped up European markets after
weak Chinese data.
The pan-European FTSEurofirst 300 index slipped 0.1
percent to 1,311.08 points in early session trading, while the
euro zone's blue-chip Euro STOXX 50 index advanced
by 0.1 percent to 3,083.33 points.
Asian stock markets fell overnight after data showed that
growth in China's services sector had slowed sharply last month,
raising concerns about the pace of recovery in the world's
A rise in Spain's IBEX stock market helped prop up
the broader pan-European equity indexes after data showed that
Spain's service sector registered its fastest pace of growth in
6-1/2 years in December.
The data lifted Spanish banks Santander and BBVA
by 1.2-1.4 percent, while the Spanish IBEX
stock market rose 0.5 percent.
Italy's FTSE MIB equity index - another
"peripheral" European market that is slowly recovering from the
effects of the euro zone's sovereign debt crisis - also rose 0.6
"I'm overweight on the periphery, as opposed to France and
Germany. There's still some value there," said Ion-Marc Valahu,
fund manager at Swiss investment firm Clairinvest.
Darren Courtney-Cook, head of trading at Central Markets
Investment Management, said there may be some short-term
pullback on the European stock markets later this month but
added traders should use any weakness to buy up stocks.
"There could be a pullback, but you should buy into that
pullback," he said.