European stock markets july 21 2011, Stoxx Europe 600 index rose

European stock markets july 21 2011, Stoxx Europe 600 index rose : European stock markets ended a choppy session with solid gains Thursday, with bank stocks getting a boost as euro-zone leaders moved toward a new response to the sovereign-debt crisis, while Ericsson AB fell sharply after its results disappointed investors.

The Stoxx Europe 600 index rose 1% to close at 270.48. It had earlier fallen as much as 0.9% following disappointing economic data from Europe and China.

Banks were the big winners, with shares in Commerzbank AG soaring 9.6% in Frankfurt, Societe Generale climbing 6.2% in Paris and Barclays adding 7.7% in London.

The Greek ASE Composite index GR:GD +2.54% rose 2.5% to 1,214.42 and Italy's FTSE MIB index climbed 3.8% to 19,490.7 as banks in both countries rallied.

Jones said disappointing data from China was behind a fall for mining stocks, which were among the worst performers Thursday.

Shares in Rio Tinto PLC dropped 1% in London and Xstrata PLC declined 1.1%.

The falls came after a preliminary reading of China's manufacturing- purchasing-managers index fell to a 28-month low in July. The euro zone's own composite PMI was also weak, hitting a 23-month low.

The U.K. FTSE 100 index settled with a gain of 0.8% at 5,899.89 as losses for the miners partially offset the gains for banks.

Earnings and other corporate news also helped move plenty of stocks as the European reporting season moved into top gear.

Shares in telecoms-equipment group Ericsson dropped 9.7%.The group reported a lower-than-expected profit as restructuring charges and the strong krona hurt the bottom line.

Among other telecom-equipment companies, shares in Alcatel-Lucent dropped 1.4% in Paris.

The French CAC 40 index ended 1.7% higher at 3,816.75, with bank stocks in the lead.

The German DAX 30 index climbed 1% to finish at 7,290.14.

Car makers dropped in the wake of the weak economic data from China and Europe.

Shares in BMW AG dropped 1.1%.

Mobile-phone maker Nokia Corp. rallied 2.5% after the group swung to an operating loss of 487 million euros but said it's making better-than-expected progress in a major restructuring plan.

Pharmaceutical giant AstraZeneca PLC was another top performer, rising 2% after the U.S. Food and Drug Administration approved its Brilinta anti-clotting drug.

Among other stocks on the move across Europe, shares in Remy Cointreau rose 5.7% in Paris after the drinks group reported a 16% rise in sales thanks to strong demand in Asia, the U.S. and Europe. For the latest updates PRESS CTR + D or visit Stock Market news Today

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