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Official data showed that industrial output fell by a record 1.5 per cent in the eurozone between October and December.
Despite the news, by mid-morning the FTSE was up 59.1 points to 4261.4.
The leading riser was Thomas Cook which added seven per cent to its share price following a positive trading update yesterday.
London Stock Exchange also saw an increase of 28.75p to 498.75p per share.
JJB Sport, which has been experiencing some financial difficulties lately, had reason to be cheerful after its share prices went up by 8.3 per cent to 13p per share.
Meanwhile, Ireland's Iseq Index fell by 1.5 per cent to 2,407.82 after it emerged that Allied Irish Bank will receive state aid.
