European shares inched higher on Monday as a decline in China's producer prices slowed and oil prices rose, while investors looked to Washington for signs of more U.S. stimulus.
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 6, 2020. REUTERS/Staff
- European shares inched higher on Monday as a decline in China’s producer prices slowed and oil prices rose, while investors looked to Washington for signs of more U.S. stimulus. The pan-European STOXX 600 index rose 0.3% by 0712 GMT, kicking off a week that could see subdued trading activity as traders head out for summer holidays.
Sectors considered more sensitive to economic health such as banks .SX7P, oil and gas .SXEP and automakers .SXAP rose as data showed China’s factory deflation eased in July, driven by a rise in global oil prices and as industrial activity climbed back towards pre-coronavirus levels.
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