* Miners among top fallers on macro concerns
* Publicis rises, upbeat on October
By Tricia Wright
LONDON, Nov 12 (Reuters) - European stocks were flat on
Monday as growing concerns over Greece were offset by robust
Chinese economic data.
The FTSEurofirst 300 was trading at 1,097.58 by
0957 GMT, steadying after last week's 1.6 percent drop.
Tensions surrounding Europe remained elevated. Although
Greece approved a tough 2013 budget over the weekend, euro zone
finance ministers are not now expected to release a new loan
tranche to the country on Monday as there is no agreement yet on
how to make its debt sustainable.
But investors took heart from numbers out of China showing
export growth climbed to a five-month high above 11 percent,
beating expectations and adding to recent data suggesting the
country's seven straight quarters of slowing growth have ended.
"Markets will probably be capped on the upside - but with a
positive bias," said Gerhard Schwarz, head of equity strategy at
Baader Bank. "We saw another set of constructive figures from
China... (but) there's also the euro zone finance minister
meeting likely not to take any concrete steps (on Greece)."
Miners were among the biggest fallers on Monday in
spite of the buoyant China data, as investors focused on weak
GDP data out of Japan, worries over Europe, and the looming U.S.
The fiscal cliff - of about $600 billion in spending cuts
and tax hikes set to begin at the start of 2013, which may
jeopardise growth - has long been an issue, but has returned to
prominence in recent days as markets' focus turns to the
post-election political landscape.
Among the risers, French advertising group Publicis
added 2.9 percent after saying demand for advertising
rebounded in October. London-listed peer WPP was boosted
by the news, climbing 1.9 percent.
Third-quarter earnings overall have proved mixed, with 43
percent of European companies missing earnings expectations so
far, according to Thomson Reuters Starmine data.
Aero electronics group Cobham was a big faller in
London, off 7.5 percent, after the company warned its 2013 sales
were set to fall due to growing pressure on U.S. defence
"Big week for equities as many... have recently started to
show signs of fatigue. If this continues it could well mean that
the highs for equities for this year are in and the usual
year-end rally not happening in 2012," said Lex van Dam, hedge
fund manager at Hampstead Capital, which manages around $500
million of assets.