Europe Stocks Rise for Fifth Day With Miners as Trade Woes Fade

European equities climbed for the fifth day as investors turned their attention away from the U.S.-China trade concerns and began preparing for the earnings season.

The Stoxx Europe 600 Index added 0.5 percent to 384.32 as miners increased 2.3 percent, followed by energy shares. Metals prices are set to be “relatively supported” this year around current levels as fundamentals are unlikely to be significantly impacted for the moment by U.S.-China trade dispute, BMI Research said in note. BHP Billiton Plc and Rio Tinto Plc rose more than 2 percent.

European stocks, especially automakers and miners, have been hammered over the past month as the U.S. and China exchanged trade threats before finally going ahead with new tariffs on Friday, which brought relief to investors as no unexpected duties were imposed. Today’s recovery is poised to be the longest string of gains since March 12.

Source: Bloomberg

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Sumber : bpfnews.com

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