European shares rose on Wednesday after better-than-expected Chinese manufacturing data gave investor sentiment a boost, with some in the market looking to increase their short-term bets on banks and miners.

Banks, many of which have exposure to euro zone sovereign debt featured among the best performers, with the STOXX Europe 600 Banks index <.SX7P> up 1 percent.

Cylical mining stocks were also strong after the Chinese data, with the STOXX Europe 600 Basic Resources index <.SXPP> up 0.7 percent.

We are seeing investors putting money in the market for a short-term and are investing in miners and banks depending on the newsflow, said Joshua Raymond, Chief Market Strategist at City Index. No-one wants to take overnight risk.

We are expecting miners to do well on the Chinese data, but there is a lot of data out today which investors will be looking at to see if the global economy is growing.

At 8:11 a.m., the FTSEurofirst 300 <.FTEU3> index of top European shares was up 0.5 percent at 1,042.61 points.

(Reporting by Joanne Frearson)