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European shares open higher on mining

June 06, 2022: European shares rose on Monday helped by miners and luxury stocks as China eased more COVID-19 restrictions, while investors kept an eye out for U.S. inflation data and details from a European Central Bank meeting later this week.

The pan-European STOXX 600 index rose 0.6% by 0719 GMT after ending 0.9% lower last week on concerns of aggressive monetary policy tightening by major central banks.

Miners rose 1.2%, while luxury stocks were the top boosts to the STOXX 600. Both sectors derive significant demand from China and rose after authorities eased more curbs in Beijing and Shanghai over the weekend.

London's commodities heavy FTSE 100 jumped 1.1% after an extended weekend. British Prime Minister Boris Johnson will face a confidence vote by lawmakers in the governing Conservative Party later on Monday, the chairman of the 1922 Committee Graham Brady has told lawmakers.

Reuters

Posted on: 2022-06-06T12:54:20+05:00

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