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European shares hover near one-year highs; miners jump

Published 02/16/2021, 04:12 PM
Updated 02/16/2021, 04:20 PM
© Reuters.
BHPB
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GLEN
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STOXX
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SXPP
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Feb 16 (Reuters) - European shares hovered near one-year
highs on Tuesday as investors held out for a bumper U.S.
stimulus package to drive global economic growth, while Glencore
led a rally among mining stocks following an upbeat trading
update.
The pan-European STOXX 600 .STOXX was up 0.2% by 0802 GMT,
after jumping 1.3% in the previous session to its highest level
since February 2020. The index is about 14% below its all-time
high.
Glencore GLEN.L jumped 3.3% after reinstating its
dividend, while BHP Group BHPB.L rose 0.3% as the world's
largest listed miner posted its best first-half profit in seven
years and declared a record interim dividend. The European mining index .SXPP jumped 1.5% to its highest
level since July 2011.
Investor focus will shift to a flash reading of the euro
zone's fourth-quarter GDP estimate later in the day, with
Reuters economists expecting the economy to have contracted 5.1%
year-on-year.

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