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European shares rise in early trade; resources lead

Published 02/04/2020, 04:19 PM
Updated 02/04/2020, 04:24 PM
European shares rise in early trade; resources lead
DE40
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STOXX
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SXPP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Feb 4 (Reuters) - European shares opened higher on Tuesday,
extending their recovery from a sharp selloff last week that was
driven by concerns over a virus outbreak in China, with the
basic resources sector leading gains.
The pan-European STOXX 600 index .STOXX rose 0.6% by 0803
GMT, having ticked up slightly on Monday after logging its worst
week in six months.
Stock markets in Asia, particularly in China, gained after
steep falls on Monday, although headlines about the coronavirus
outbreak are expected to sway markets in the near term.
MKTS/GLOB
The basic resources sector .SXPP , which consists of
several China-focused miners, was the best performer among EU
regional subindexes, adding about 1.5%.
German stocks .GDAXI rose about 0.7% after data on Monday
pointed to some recovery in the beleaguered manufacturing
sector. However, an economic slowdown in China is likely to add
more pressure.

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