Europe

Markets - Equity - Europe

European equities end steady, miners underpin market LONDON: European shares steadied on Wednesday, with basic resources companies underpinning the broader market following a rise in metals prices. The pan-European STOXX 600 index ended down 0.07 percent, after rising in the previous two sessions. The European basic resources index rose 1.3 percent after hitting its highest level since mid-2015 after base as precious metals prices advanced. Shares in BHP Billiton, and Rio Tinto rose 2.1 and 0.9 percent respectively. "Longer term, the 'New Trump' reality of higher growth through fiscal stimulus and infrastructure work certainly warrants higher commodities and stock prices," said Philippe Gijsels, head of research at BNP Paribas Fortis. "However, in the short run, miners, just like the overall market, are clearly ahead of themselves and a small period of consolidation would be healthy for the sector." The European mining sector has surged more than 12 percent this month alone, taking total gains for this year ...
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