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Autos, miners push European shares higher

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 -
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(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)

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