💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

European shares rise on China PMI data; miners up

Published 09/01/2010, 03:14 AM
Updated 09/01/2010, 03:16 AM

LONDON, Sept 1 (Reuters) - European shares rose on Wednesday, led by mining stocks boosted by a manufacturing rebound in China and the media sector after Vivendi raised its annual profit targets.

Miners were buoyed by optimism about China's manufacturing base after positive purchasing manager data. Anglo American, Antofagasta, BHP Billiton, Rio Tinto and Xstrata gained 0.8 to 1.6 percent.

By 0709 GMT, the pan-European FTSEurofirst 300 index of top shares was 0.5 percent higher at 1,031.54 points. "The market is higher on the China PMI data, though everyone will be waiting for the U.S. ISM, which is seen weaker and the ADP Employment report, later in the session," said Giuseppe-Guido Amato, strategist at Lang & Schwarz.

Europe's largest telecom and entertainment group Vivendi gained 3.3 percent. The company raised its annual profit targets when posting forecast-beating first-half results boosted by its newly acquired Brazilian telecoms unit and video games. (Reporting by Joanne Frearson)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.