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Europe: Autos, miners push shares higher

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The pan-European STOXX 600 index rose 0.5 per cent, touching its highest level since Jan 2018.

[FRANKFURT] European shares started the week on a strong footing on Monday, powered by gains in shares of automakers and miners and signs of a warm tone to US-China trade talks over the weekend.

The pan-European STOXX 600 index rose 0.5 per cent, touching its highest level since Jan 2018.

The United States and China late on Friday said they had made progress in talks aimed at defusing a nearly 16-month-long trade war that has harmed the global economy, and US officials said a deal could be signed this month.

That helped push the tariff-exposed European autos sector up 2 per cent, the biggest gain of the market's main sub-sectors. Miners rose 1.5 per cent.

Trade-sensitive Frankfurt shares rose 0.7 per cent, also helped by a 6 per cent gain for Siemens Healthineers after it said it expected strong growth to continue next year following a better-than-expected fourth quarter.

Purchasing manager surveys from across the euro zone are due later on Monday. 

REUTERS

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