At 0750 GMT, the Stoxx Europe 600 index was up 0.1% at 268.50. London's FTSE 100 was 0.2% higher at 5879.44, Frankfurt's DAX was up 0.4% at 7201.63, but Paris's CAC-40 was 0.2% lower at 3765.34.
The slight gains followed marginally better-than-expected Chinese second-quarter GDP, which rose 9.5% from a year earlier, compared with 9.7% growth in the first quarter. It helped to lift the Shanghai Composite index trade up 1.5% in Asia Tuesday, while Hong Kong's Hang Seng index added 1.2%. Elsewhere, Japan's Nikkei Stock Average was up 0.5%, while South Korea's Kospi Composite was 0.9% higher.
The strong Chinese growth figures also helped metal prices recover in Asia overnight, in turn, offering the European basic resource sector a healthy lift. The Stoxx Europe 600 index for the sector rose 1.4%.
However, the European debt situation continues to influence sentiment, with Moody's downgrading Ireland's credit rating to junk status on Tuesday. Ireland now joins Greece and Portugal in the 'junk' rating category from Moody's.
This is of particular concern as many market participants have more hope for the Irish recovery story relative to Greece and Portugal, said Padhraic Garvey, strategist at ING Bank.
Attention will now be on a special summit of euro-zone leaders on Friday in a bid to break the deadlock over how to include the private sector in a new Greek aid package. The market expects the meeting on Friday to result in a solution, said Lloyds Corporate Markets. "If there isn't a meeting, or if the meeting fails to deliver, expect more market carnage," it added.
Among European corporate news, luxury retailer Burberry shares rose 5.1%, after it reported a better-than-expected 34% rise in first-quarter sales. By contrast, U.K. high-street bellwether Marks & Spencer Group shares dropped 2.2%, after it reported a difficult economic environment in its first-quarter figures, but posted sales that were marginally better than market views.
In foreign exchange markets, the euro staged a mild rebound as the solid China data lifted the risk-sensitive currency, though traders said upside still appears limited amid ongoing concerns about a wider debt crisis in the euro zone.
By 0754 GMT, the single currency was at $1.4045 against the dollar, from $1.3975 late in New York Tuesday. The dollar was at Y79.37, from Y79.25.
Among commodities, spot gold was at $1,571.30 a troy ounce, down $3.20 from its New York settlement Tuesday. August Nymex crude oil futures were up 15 cents at $97.58 a barrel. Meanwhile, in the bond market, the September bund contract was 4 ticks lower at 128.85.
Looking ahead to Wednesday's economic agenda, the U.K. publishes claimant count and unemployment rate figures, both at 0830 GMT. In the euro zone, industrial production data are at 0900 GMT, while in the U.S., import prices are due 1230 GMT. Attention will also be on Federal Reserve Chairman Ben Bernanke's testimony to U.S. Congress, at around 1400 GMT. For the latest updates PRESS CTR + D or visit Stock Market news Today
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