BREAKING NEWS

China factory data drives bounce in European shares

China factory data drives bounce in European shares
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 29, 2019. REUTERS/Staff -
Copyright
STAFF(Reuters)
Text size Aa Aa

(Reuters) – 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 <.STOXX> rose 0.3% by 0813 GMT, led by a 1.2% gain for China-exposed miners <.SXPP>, while rising oil prices helped the energy sector <.SXEP> up 0.5%.

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.

IHS Markit’s November factory activity data for major European economies are due by 0850 GMT, with German and French numbers expected to remain unchanged from October, according to a Reuters poll.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.