European shares rise as miners support Reuters

(Reuters) – European shares rose on Tuesday after a subdued start to the week, buoyed by heavy miners, although investors remained cautious ahead of key economic data this week.

The pan-European index rose 0.2 percent to 519.33 points as of 0715 GMT.

Investors await key economic data from Germany and Spain this week, including Friday’s European Union inflation print, for signals on the European Central Bank’s policy path.

Germany’s benchmark traded flat after detailed GDP data released earlier in the day showed the economy contracted 0.1 percent in the second quarter of 2024.

Sweden’s benchmark also held steady at 2,566.69 points after data showed the producer price index fell 1.4 percent in July.

The basic resources sub-index was the biggest sectoral gainer in the region, rising more than 1 percent, as prices climbed to their highest levels in nearly six weeks on optimism about a potential U.S. interest rate cut. (MET/L)

Among individual stocks, Bunzl (OTC: ) rose 11.6% after the British business supplies distributor raised its full-year forecast for adjusted operating profit.

Shares of Daimler (OTC: ) Truck Holding AG lost 2% after Goldman Sachs downgraded the stock to “neutral” from “buy.”

Flughafen Zuerich fell 4.1 percent after the Swiss airport operator missed margin estimates for the first half of the year.

Associated British Foods ( OTC: ) fell 2.6% after Deutsche Bank cut its rating to “sell” from “buy.”