European stocks remain higher after PMI data; Dax up 0.60%

European stocks remained higher on Thursday, supported by a string of economic reports out of the euro zone and China, while speculation that the Federal Reserve could delay the tapering of its bond purchases persisted. 

During European afternoon trade, the EURO STOXX 50 climbed 0.59%, France’s CAC 40 rose 0.23%, while Germany’s DAX 30 gained 0.60%. 

The preliminary reading of the euro zone’s manufacturing purchasing managers’ index ticked up to 51.3 in October from a final reading of 51.1 in September, slightly below expectations for a reading of 51.4. 

The euro zone services PMI fell to 50.9 this month from 52.2 in September.

Germany’s manufacturing PMI edged up to 51.5 from a final reading of 51.1 in September, but the services PMI declined to a three-month low of 52.3.

Manufacturing and service sector activity in France declined unexpectedly this month. 

Sentiment also improved after the preliminary reading of China’s HSBC manufacturing index for October rose to a seven-month high of 50.9, up from a final reading of 50.2 in September. Economists had expected the index to tick up to 50.5. 

Elsewhere, data earlier in the week showing that U.S. jobs growth slowed in September cemented expectations that the Fed would continue the current pace of its asset purchase program well into next year. 

Financial stocks were mostly higher, as French lenders BNP Paribas and Societe Generale rallied 1.77% and 1.83%, while Germany's Deutsche Bank climbed 0.92%. 

But peripheral lenders turned lower, with Spanish banks BBVA and Banco Santander falling 0.03% and 0.50% respectively, while Italy's Intesa Sanpaolo and Unicredit retreated 0.47% and 0.79%. 

Banco Santander earlier said third-quarter profit rose more than eightfold, thanks to lower costs for absorbing losses on real estate. 

Elsewhere, Daimler surged 3.07% after the maker of luxury vehicles said third-quarter earnings before interest and taxes rose 16% to EUR2.23 billion, surpassing market expectations. 

In London, FTSE 100 advanced 0.51%, still supported by sharp gains in the financial sector. 

Shares in HSBC Holdings rose 0.32% and Barclays climbed 0.59%, while the Royal Bank of Scotland rallied 1.90% and Lloyds Banking surged 2.12%. 

In the mining sector, stocks also remained mostly higher, with Glencore Xstrata gaining 0.44% and Rio Tinto up 0.61%, while rival company Fresnillo jumped 1.51%. 

In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.39% rise, S&P 500 futures signaled a 0.40% increase, while the Nasdaq 100 futures indicated a 0.40% climb. 

Also Thursday, official data showed that Spain's unemployment rate ticked down to 26.0% in the third quarter, from 26.3% in the three months to June, compared to expectations for a fall to 26.1%. 

Later in the day, the U.S. was to release data on initial jobless claims, the trade balance and new home sales.