European shares are rising today to their highest level in a week following positive business results and the recovery of mining companies’ shares.
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The pan-European Stoxx 600 index rose 0.7%.
European shares rose on Friday to a one-week high following positive business results and a rebound in mining stocks, adding to risk appetite at the end of a volatile month dominated by fears of slowing global growth.
The pan-European Stoxx 600 index rose 0.7%, trimming its monthly loss to 1.2%.
Today’s gains lost some of their luster following Wall Street opened lower as it was affected by the results of “Amazon” and “Apple”.
Mining stocks rose 2.5% today as iron ore and copper prices rose following China pledged to support the economy, raising hopes for continued demand.
The markets were also supported by positive business results, as the share of the Danish pharmaceutical company “Novo Nordisk” gained 5.4% following increasing its sales and operating profit expectations for this year.