London--European equities rebounded Wednesday as weak Chinese economic growth data stoked Beijing stimulus hopes while the ECB pledged to fully implement its stimulus measures.
In afternoon trading, the benchmark CAC 40 index rallied 0.83 percent compared with Tuesday's close to 5,261.50 points and Frankfurt's DAX 30 won 0.47 percent to 12,284.81 points.
London's FTSE 100 index advanced 0.45 percent to 7,107.12 points, aided partly by news of sparkling sales from luxury goods company Burberry.
In foreign exchange activity, the European single currency edged up to $1.0655 from $1.0654 late in New York on Tuesday.
- ECB pledges full stimulus -
Mario Draghi sought to reassure markets that the ECB will fully implement its stimulus programme, following speculation of an early exit on signs it is quickly working to perk up growth and dangerously low inflation in the eurozone.
After the ECB decided to keep its main policy rate at the record low 0.05 percent, Draghi said "there is clear evidence that the monetary policy measures we have put in place are effective."
Last month the ECB began its massive 1.1-trillion-euro QE or "quantitative easing" scheme under which it aims to buy 60 billion euros of bonds per month until September 2016.
"Financial market conditions and the cost of external finance for the private sector have eased considerably over the past months and borrowing conditions for firms and households have improved notably, with a pick-up in the demand for credit," said Draghi.
"Looking ahead, our focus will be on the full implementation of our monetary policy measures," he added.
AFP
