BMW outperforms weak European equity markets

LONDON, March 24 (Reuters) - Weak Chinese economic data weighed on European equity markets on Monday, although German carmaker BMW (Berlin: BMW.BE - news) rose to outperform after it benefited from a broker upgrade.

The pan-European FTSEurofirst 300 index fell 0.2 percent to 1,304.93 points in early session trading, while the euro zone's blue-chip Euro STOXX 50 index also slipped 0.1 percent to 3,093.55 points.

However, BMW rose 1.8 percent after Deutsche Bank (Xetra: DBK.DE - news) raised its rating on the stock to "buy" from "hold".

Some traders said the weak Chinese data would prevent European markets from making much progress in the near-term.

Data on Monday showed that the China HSBC flash manufacturing purchasing managers index (PMI) fell to an eight-month low in March.

"The trend is still down for now," said Berkeley Futures associate director Richard Griffiths. (Reporting by Sudip Kar-Gupta; Editing by Hugh Lawson)