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REFILE-European shares rise in cautious trade, FTSE shines

Published 02/09/2019, 12:22
© Reuters. REFILE-European shares rise in cautious trade, FTSE shines
UK100
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DE40
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(Corrects typo in first paragraph)
Sept 2 (Reuters) - European shares opened higher on Monday,
driven by a rally in miners, while sentiment remained fragile as
the United States and China kicked off the latest round of
tit-for-tat tariffs on each other's goods.
Britain's FTSE 100's .FTSE 0.4% jump led gains, with
mining majors such as BHP BHPB.L and Rio Tinto RIO.L rising
on a surge in iron ore prices overnight in top consumer China.
IRONORE/ .L
Iron ore prices were supported by a pledge on Saturday from
Beijing to beef up investment in infrastructure projects and
regional development to support a slowing economy.
Meanwhile, Washington's 15% tariffs on a variety of Chinese
goods came into effect on Sunday, while China began to implement
new duties on a $75 billion target list.
However, both sides will still meet for talks later this
month, U.S. President Donald Trump said. MKTS/GLOB
Trade-sensitive German shares .GDAXI was up 0.1% and the
pan-European stocks benchmark index STOXX 600 .STOXX rose 0.3%
by 0714 GMT, beginning September higher after a 1.6% drop in
August as the trade war, which has roiled financial markets and
raised global recession fears, rages on for more than a year.
With U.S. markets shut for a local holiday, volumes are
expected to thin.
A slew of official and private manufacturing numbers from
the euro zone expected during morning trade may also sway
markets. These will come after data from China painted a bleak
outlook for its factories.

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