European shares gained on Monday as further evidence of weak growth in China supported hopes of a policy stimulus, while Generali jumped after Delfin was authorized to hold an over 10% stake in Italy’s biggest insurer.
The pan-European STOXX 600 index was up 0.2% by 7:03 GMT, kicking off the second half of the year on positive note after notching solid gains in the first six months.
UK’s FTSE 100 edges higher on mining boost
Miners gained 1.1% as most metal prices rose on hopes that China’s government will deliver a stronger economic stimulus package after a survey showed the country’s factory activity slowed in June.
Shares of Assicurazioni Generali jumped 4.3% after Italy’s insurance regulator said it had authorized investor Delfin to hold a stake of over 10% in the company.
Tesla’s Frankfurst-listed shares advanced 4.9% after the EV maker beat second-quarter delivery estimates.
Investor focus was on Purchasing Managers’ Index (PMI) data from the euro zone due later in the day.
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