India, Jan. 14 -- European stocks rose modestly on Thursday to extend gains for the third straight session as positive Chinese trade data and hopes of a large stimulus under the Biden administration helped outweigh concerns over rising Covid-19 infections and the resultant lockdowns.

Investors shrugged off the first calculation from Destatis showing that the German economy suffered a deep recession after a ten-year growth period.

GDP fell 5 percent in 2020, in contrast to the 0.6 percent rise seen in 2019.

However, the economic downturn was less serious than in 2009, when GDP slid 5.7 percent.

In calendar-adjusted terms, GDP was down 5.3 percent versus a 0.6 percent rise in the previous year.

The pan European Stoxx 600 edged up 0.4 p...