Autos, miners push European shares higher
Reuters
Published Nov 04, 2019 08:29
(Reuters) - 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 U.S.-China trade talks over the weekend.
The pan-European STOXX 600 index (STOXX) rose 0.5%, touching its highest level since January 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 U.S. officials said a deal could be signed this month.
That helped push the tariff-exposed European autos sector (SXAP) up 2%, the biggest gain of the market's main sub-sectors. Miners (SXPP) rose 1.5%.
Trade-sensitive Frankfurt shares (GDAXI) rose 0.7%, also helped by a 6% gain for Siemens Healthineers (DE:SHLG) 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.
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Written By: Reuters
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