European stocks struggle despite rise in oil

European markets are having a tough time holding on to their gains despite the rise in oil prices and upbeat China data.

At the time of writing, Stoxx 50 index was down 0.15%. Germany’s DAX was down 0.46% and France’s CAC traded 0.14% higher on the day. UK’s mining heavy FTSE also enjoyed moderate gains.

Gains in oil have helped energy shares rise today. UK’s Petrofac and Tullow Oil were up 3% and 2.45 respectively. Norway’s Subsea 7 was up 2.5%. Meanwhile, the losing side included names like Swedbank A, Air France KLM, and UK’s Rotork.

Sentiment in Asian markets was mixed in Wednesday's late session. China's Caixin services purchasing managers' index (PMI) for March rose to 52.2, up from February's reading of 51.2.