Spanish stock markets rose on Wednesday after good quarterly results from Inditex, owner of Zara, while its European counterparts lagged as luxury and mining companies fell after weak trade data from China.

The pan-European STOXX 600 index was giving up 0.2%, while Spain's IBEX 35 was gaining 0.6% at 07.12 GMT.

Inditex was up almost 4% after announcing that sales of its spring-summer collection rose 16% last month.

European retailers were up 2.2%, leading sectoral gains, while miners gave up 0.7%.

Chinese exports contracted much faster than expected in May, while imports extended their declines in the face of a bleak outlook for global demand, especially from developed markets.

The luxury giant with exposure to China and Europe's most valuable company, LVMH, fell 0.5%.

Concerns also remained about further interest rate hikes by major central banks, including the European Central Bank and the US Federal Reserve next week, amid slowing economic growth.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sonia Cheema, edited in Spanish by José Muñoz)