European Shares Hover near OneYear Highs; Miners Jump

European shares hovered near oneyear highs on Tuesday as investors held out for a bumper U.S. stimulus package to drive global economic growth, while Glencore led a rally among mining stocks following an upbeat trading update.

The panEuropean STOXX 600 was up 0.2 by 0802 GMT, after jumping 1.3 in the previous session to its highest level since February 2020. The index is about 14 below its alltime high.

Glencore jumped 3.3 after reinstating its dividend, while BHP Group rose 0.3 as the worlds largest listed miner posted its best firsthalf profit in seven years and declared a record interim dividend.

The European mining index jumped 1.5 to its highest level since July 2011.

Investor focus will shift to a flash reading of the euro zones fourthquarter GDP estimate later in the day, with Reuters economists expecting the economy to have contracted 5.1 yearonyear.

Reporting by Sagarika Jaisinghani in Bengaluru, Editing by Sherry JacobPhillips

Source Reuters

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