European equities slide but Buffett boosts Wall Street

European stock markets fell Monday on disappointing Chinese data, but news billionaire investor Warren Buffett has taken a $1-billion bite into Apple helped push Wall Street higher.

London stocks shed 0.4 percent, Madrid lost 1.1 percent and Paris dropped 0.6 percent, as investors fretted over fresh evidence of China's economic slowdown.

Trade was subdued however owing to a holiday closure in Frankfurt.

"It was Monday Blues in European markets after weak economic data from China released over the weekend added to investor woes brought about by Wall Street falling to its lowest in a month," said CMC Markets analyst Jasper Lawler.

"The Whit Monday holiday has dampened trading volumes."

Asian markets however rallied following last week's sharp losses, with Tokyo boosted by a report that Japan's prime minister plans to delay a planned sales tax increase.

And Shanghai stocks finished 0.8 percent higher despite the weak data, buoyed by central bank assurances that it would continue with policies to support growth.

Chinese industrial output, retail sales and fixed-asset investment all came in below expectations, the latest disappointing data out of Beijing following below-par trade figures the previous weekend.

"The FTSE 100's rollercoaster ride continues, starting the week with a quick dive, unwinding an impressive rally Friday afternoon," added Lee Wild, head of equity strategy at online stockbroker Interactive Investor.

"Data out of China over the weekend disappointed at every level -- industrial production, retail sales and investment growth."

- Buffett bites into Apple -

Wall Street opened on the upside on Monday after billionaire investor Warren Buffett took a bite of tech giant Apple, with the Dow Jones Industrial Average rising 0.2 percent.

The $1 billion stake in Apple was revealed in a regulatory filing by Buffett's holding company Berkshire Hathaway after Apple shares skidded last week to their lowest level in two years.

Buffett's entry comes weeks after another billionaire, Carl Icahn, announced he had sold all his Apple holdings after an extended campaign to get the company to deliver more value to shareholders.

In Asia meanwhile, Tokyo investors cheered a report Saturday in the respected Nikkei business daily that Shinzo Abe had told officials he wants to put off the consumption tax rise to avoid damaging the already tottering economy. It is not known how long he intends to postpone it.

The last rise in April 2014 -- the nation's first in 17 years -- was blamed for stalling a nascent recovery and pushing Japan into a recession from which it has hardly recovered.

While experts say Tokyo must raise tax revenue to deal with soaring debts and pay for the ballooning cost of welfare as the population ages, a delay is seen as crucial to support economic growth.

Japan's benchmark Nikkei shares index closed 0.3 percent higher, with a weaker yen also providing support.

Attention now turns to Wednesday's release of Japanese first-quarter economic growth figures.

- Key figures around 1530 GMT -

London - FTSE 100: DOWN 0.4 percent at 6,116.27 points

Paris - CAC 40: DOWN 0.6 percent at 4,293.43

Frankfurt - DAX 30: Closed for a public holiday

EURO STOXX 50: UP 0.1 percent at 2,938.47

New York - Dow: UP 0.2 percent at 17,577.23

New York - S&P 500: UP 0.3 percent at 2,051.91

New York - Nasdaq: UP 0.3 percent at 4,733.94

Tokyo: Nikkei 225: UP 0.3 percent at 16,466.40 (close)

Shanghai - Composite: UP 0.8 percent at 2,850.86 (close)

Hong Kong - Hang Seng: UP 0.8 percent at 19,883.95 (close)

Euro/dollar: UP at $1.1317 from $1.1309 Friday

Dollar/yen: UP at 108.88 yen from 108.63 yen