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Autos, miners push European shares higher

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By Reuters
Autos, miners push European shares higher
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 30, 2019. REUTERS/Staff   -   Copyright  STAFF(Reuters)

(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 <SHLG.DE> 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.

(Reporting by Shreyashi Sanyal in Bengaluru; editing by Patrick Graham)