European stocks rise after upbeat German data; Dax up 0.55%

European stocks were higher on Thursday, after data showed that Germany's industrial production rose more-than-expected in February, fuelling optimism over the strength of Europe's biggest economy.

During European morning trade, the EURO STOXX 50 climbed 0.45%, France’s CAC 40 gained 0.52%, while Germany’s DAX 30 advanced 0.55%.

Data earlier showed that German industrial production rose 0.2% in February, ahead of expectations for a 0.1% gain as the production of energy and capital goods increased.

Another report showed that German exports rose 1.5% in February while imports also increased, pointing to growth in the region’s largest economy.

Financial stocks were mixed, as Societe Generale (PARIS:SOGN) slipped 0.22% and BNP Paribas (PARIS:BNPP) climbed 0.49% in France, while Deutsche Bank (XETRA:DBKGn) dropped 0.77% and Commerzbank (XETRA:CBKG) gained 0.56% in Germany.

Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) rose 0.27% and 0.31% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) both added 0.13%.

Elsewhere, Vivendi (PARIS:VIV) surged 2.99% following reports the French media company agreed to pay an additional dividend of €2 a share to accommodate demands by Wall Street activist Peter Schoenfeld for bigger returns.

Holcim (SIX:HOLN) Ltd. and Lafarge (PARIS:LAFP) added to gains, with shares climbing 0.62% and 1.57% respectively after the two cement makers agreed to appoint Eric Olsen to lead their combined operation.

In London, FTSE 100 advanced 0.50%, led by Burberry, whose shares soared 4.45% after the clothing retailer's stock had its "hold" rating reaffirmed by Societe Generale.

In the financial sector, stocks were also mostly higher. Shares in the Royal Bank of Scotland (LONDON:RBS) edged up 0.14% and Barclays (LONDON:BARC) climbed 0.70%, while HSBC Holdings (LONDON:HSBA) rallied 1.65%. Lloyds Banking (LONDON:LLOY) underperformed on the other hand, down 0.27%.

Meanwhile, mining stocks were broadly lower as Glencore Xstrata (LONDON:GLEN) dropped 0.66% and Bhp Billiton (LONDON:BLT) plummeted 2.48%, while rivals Rio Tinto (LONDON:RIO) and Anglo American (LONDON:AAL) plunged 2.54% and 3.54%.

In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.15% fall, S&P 500 futures signaled a 0.17% slip, while the Nasdaq 100 futures indicated a 0.14% loss.

Later in the day, the Institute of Supply Management is to release data on U.S. service sector activity.