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Europe: Shares rise at open, buoyed by Elekta
[LONDON] European shares rose at the open on Thursday as commodity stocks recovered from recent falls, with a leading index also buoyed by well-received results from Sweden's Elekta to start September on a positive footing.
The Stoxx Europe 600 rose 0.6 per cent, after finishing August with a 0.4 per cent fall on Wednesday as commodity prices slumped.
However, oil prices stabilised and metal prices recovered on Thursday, leaving the energy and mining sectors up 0.5 per cent and 1.3 per cent respectively. Banks continued a recent rally and were the top sectoral risers, with HSBC up 2.4 per cent.
Elekta was the top single-stock gainer on the Stoxx 600, up 5.2 per cent after the maker of radiation therapy equipment posted Q1 core profit above forecast and said demand had been good in emerging markets, with China particularly strong.
Recruiting firm Hays dropped 3.9 per cent per cent, the top faller, after it said that hiring in Britain weakened significantly shortly after the June 23 vote to leave the European Union.