Metals and mining shares
climbed 3 percent on Tuesday underpinning a firm open for
Europe's benchmark stock index as the global reflation
trade in the wake of Donald Trump's victory in the U.S.
presidential election continued.
The pan-European STOXX 600 index rose 0.7 percent
in early trades. The index is still down about 6 percent so far
In the United States, all three major stock indexes set
record closing highs on Monday. Small caps also rose, pushing
the Russell 2000 index to a record high close, with the
session marking the first time all four indexes hit closing
records on the same day since Dec. 31, 1999.
The European basic resources index, which has now
doubled from its January lows, was the best performing sector
index after prices of major industrial metals such as copper and
aluminum rose 1 to 2 percent. Anglo American, BHP
Billiton and Antofagasta advanced 4.0 to 5.3
The STOXX Europe 600 Oil and Gas index was up 1
Elsewhere, Genmab rose 4.8 percent after the
company received U.S. approval for a drug while Essilor
shares were poised for their worst day in eight years
after the firm cut its outlook.