European stocks advance despite slow in Euro zone recovery

European stocks climbed Wednesday as investors reacted to key data releases from the euro zone.

The pan-European Stoxx 600 gained 1.1% by mid-afternoon, with travel and leisure stocks bouncing 2.8% as all sectors and major bourses held in positive territory.

Euro zone business activity growth slowed in September, with IHS Markit’s preliminary euro zone composite purchasing manager’s index (PMI) reading coming in below expectations at 50.1, down from 51.9 in August. A reading above 50 represents expansion.