Moncler jumps after annual sales beat forecasts
Miners set for best day in nearly four months
Allfunds slides after Euronext pulls 5.8 bln offer

March 1 Reuters Miners and luxury firms lifted European shares on Wednesday after strong data from China brought relief to investors fearful of an economic slowdown, while declines in shares of eurozone39;s biggest bank BNP Paribas kept the gains in check.

The continentwide STOXX 600 rose 0.2 by 0900 GMT, kicking off the month on a steady ground after a solid start to the year.

China39;s factory sector grew in February at the fastest pace in more than a decade, an outlier in Asia, where manufacturing growth stalled elsewhere.

Luxury giants such as LVMH, Kering, Pernod Ricard and Hermes International, which have big exposure to China, rose between 1.7 and 2.4.

Italian luxury group Moncler climbed 7.5 to the top of the STOXX 600 after its sales jumped 25 at constant exchange rates to come in ahead of forecasts.

The reopening of China postCOVID would have a positive effect on global growth.. in general, you would say that for a lot of luxury names recovering Asian demand is an important driver, said Richard Flax, chief investment officer at Moneyfarm.

The European basic resources index advanced 2.6, set for its biggest oneday percentage gain since November, as metal prices jumped.

Chinaexposed autos index added 1.5.

European shares have had a robust start to the year as relaxation of China39;s zeroCOVID protocols…