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FXstreet.com (Barcelona) - The European equity market rose in early trade on Monday, as investors remain positive on a favourable outcome for the miners out of the Australian elections, which will allow the sector to take a breather and avoid the planned mining taxes.

Meanwhile, HSBC was on the wires, after a potential take-over bid on Nedbank was in the works, boosting the banking giant. Furthermore, market players seem to have shrugged off weak figures in the EMU manufacturing PMI given earlier this morning.

The FTSE-100 stood 0.40% higher, recovering part of the lost ground from late last week, after further evidence on a faltering US recovery sapped risk appetite. Energy and miners were the best performers, as firmer commodity prices buoyed the bidding tone. The CAC-40 in France was up 0.60%, while the German DAX sit 0.25% higher. No important economic reports are scheduled for today,

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