European shares open higher on boost from miners

European shares edged higher on Monday, as miners rose on China demand hopes, while caution prevailed after a top Federal Reserve policymaker warned that the U.S. central bank would not "soften" its fight against inflation. The pan-European STOXX 600 index was up 0.1% by 0811 GMT, after recording its biggest weekly gain in nearly eight months on Friday.


Reuters | Updated: 14-11-2022 13:54 IST | Created: 14-11-2022 13:52 IST
European shares open higher on boost from miners
Representative Image Image Credit: Pixabay

European shares edged higher on Monday, as miners rose on China demand hopes, while caution prevailed after a top Federal Reserve policymaker warned that the U.S. central bank would not "soften" its fight against inflation.

The pan-European STOXX 600 index was up 0.1% by 0811 GMT, after recording its biggest weekly gain in nearly eight months on Friday. The basic resources index rose 0.7% as copper prices stayed near five-month highs amid supportive measures from the Chinese government for its ailing property sector.

Fed Governor Christopher Waller said on Sunday markets should now pay attention to the "endpoint" of interest rate increases, not the pace of each move, and that the endpoint was likely still "a ways off". Among individual stocks, British events organiser Informa Plc jumped 5.5% to the top of the STOXX 600 after it raised its full-year earnings outlook.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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