LONDON (Archyde.com) – European shares rebounded on Monday following five straight weeks of losses, as gains in mining stocks and positive business results outweighed fears of a series of looming monetary policy tightening and geopolitical tension. The pan-European Stoxx 600 index rose 0.1 percent, following falling 0.7 percent last week.
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Mining stocks led the recovery, increasing by 1.2 percent, as aluminum prices in China jumped 3 percent, supported by concerns regarding supply and expectations of demand growth, while steel and iron ore futures rose in China following the country’s planner called for an acceleration of infrastructure work. Rio Tinto and Anglo American advanced 1.1 percent and 1.6 percent, respectively. Europe’s largest copper producer, Eurobis, jumped 4.7 percent following confirming an 85 percent increase in quarterly profits and estimates of full-year profits, supported by the rise in solid metal prices and production strength.
