China factory data drives bounce in European shares

Credit: REUTERS/Reuters Staff

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.

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Dec 2 (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%. O/R

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)

((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 6328;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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