Retail leads sectoral gains
Danske Bank jumps on raising profit goal
ECB hikes may take longer than usual to make impact Schnabel

June 7 Reuters Madrid stocks rose on Wednesday after Zaraowner Inditex39;s strong quarterly showing, while its other European peers lagged as luxury companies dipped on weak China trade data.

The panEuropean STOXX 600 index edged 0.2 lower, while Spain39;s IBEX 35 index gained 0.3, in the first hour of trading.

Inditex rose 5.6 after it said sales of its springsummer collection jumped by 16 over the past month.

The European retail index jumped 2.2, touching its highest level in nearly three weeks and leading sectoral gains.

China39;s exports shrank much faster than expected in May, while imports extended declines with a grim outlook for global demand, especially from developed markets.

Chinaexposed luxury giant and Europe39;s most valuable firm LVMH fell 0.3.

The STOXX 600 has been rangebound this week as worries remained of further interest rate hikes by major central banks, including the European Central Bank and U.S. Federal Reserve next week, in the face of slowing economic growth.

Markets are very tentative at the moment, said Giles Coghlan, chief market analyst at HYCM in London.

We39;ve had more negative news from China overnight, uncertainty regarding whether tech stocks can keep up the recent rally and a little bit of a summer malaise are all leading to sort of pretty much directionless trade.

Chip stock BE Semi, which…