Mubasher: European shares continued their rally in Friday's morning trading despite the negative economic data released today.   

January's composite PMI declined to 53.6 from 54.2 in December, according to the data released on Friday by the financial information services provider Markit.

UK's FTSE100 rose 1.44% to 5859 points, and German's DAX climbed 1.63% to 9732. In addition, France's CAC moved 2.15% higher to 4297.

Spain's IBEX35 index rose 1.9% to 8605, and Stoxx 600 index was up 2% to 335.