European Equities Advance, Buoyed by Mining, Auto-Maker Gains

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European equities were trading higher on Monday as mining stocks and car-makers advanced ahead of the release of a slate of US economic data due out later in the week.

US inflation, industrial production and retail sales figures are all scheduled to be published this week, and are likely to be scoured by investors for clues as to the possible timing of the Federal Reserve's next interest rate hike.

Separately, Japanese data published on the weekend showed that the world's third largest economy registered a fourth consecutive quarter of growth in the final three months of the year. Gross domestic product (GDP) rose by 1.0% in the fourth quarter of the year, broadly in line with economists' projections.

In other economic news, selling prices in Germany's wholesale trade increased by 4% in January from the corresponding month of the preceding year, according to data published by federal statistics agency Destatis on Monday. This was a bigger gain than had been recorded in the months of December and November when annual rates of change had been 2.8% and 0.8%, respectively.

And, oil prices , were in the red, with West Texas Intermediate ( WTI ) crude oil and Brent crude both down by 0.8% at $53.39 per barrel and $56.23 per barrel, respectively, in recent trade.

In equities, mining companies dominated the gainers on London's FTSE 100 Index, with Glencore, Anglo American, Antofagasta and BHP Billiton up by 2.2%, 1.7%, 1.6% and 1.6%, respectively.

On Frankfurt's DAX, car-makers BMW and Volkswagen were 1.2% and 1.1% higher, respectively, while airline operator Deutsche Lufthansa and media company ProSiebenSat1 Media were 0.8% and 0.7% higher, respectively.

And, on Paris' CAC-40, car-makers Peugeot and Renault were 2.2% and 1.9%, respectively, while luxury goods company LVMH Moet Hennessy Louis Vuitton and cosmetics company L'Oreal were 1.4% and 0.8% higher, respectively.

The pan-European Stoxx 600 Index was 0.21% higher, London's FTSE 100 Index was up by 0.04%, Frankfurt's DAX was up by 0.45% and Paris' CAC-40 was 0.43% higher at the time of writing.

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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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