Europe: China factory data drives up shares

[BRUSSELS] European shares edged higher on Monday as upbeat factory activity data from China boosted trade-sensitive sectors such as miners, oil and gas, as well as automakers.

The pan-European STOXX 600 index rose 0.3 per cent by 0813 GMT, led by a 1.2 per cent gain for China-exposed miners, while rising oil prices helped the energy sector up 0.5 per cent.

Optimism spilled over from Asian markets as a private business survey showed factory activity in China unexpectedly expanded at the quickest pace in almost three years in November, with solid increases in output and new orders.

REUTERS