European shares open higher ahead of manufacturing, inflation data
(For a live blog on European stocks, type LIVE/ in an Eikon news window)
Sept 1 (Reuters) - European shares opened higher on Tuesday after clocking small gains in August, but sentiment was shaky ahead of key economic readings that are likely to indicate an uneven recovery from the coronavirus.
The pan-European STOXX 600 index .STOXX rose 0.4% in early trade, taking some support from better-than-expected Chinese manufacturing data.
China-sensitive sectors such as basic resources .SXPP and automobiles .SXAP rose about 0.6% and 0.4%, respectively.
Markets were awaiting local manufacturing and inflation readings for August. Both data sets are expected to show a slight decline from the prior month.
In corporate news, Telecom Italia TLIT.MI rose 1.5% after its board approved a sale of a minority stake in its last-mile grid to U.S. investment firm KKR KKR.N , while endorsing a government plan to create a single ultrafast network with rival Open Fiber.
Reporting by Ambar Warrick in Bengaluru; Editing by Shailesh Kuber and Saumyadeb Chakrabarty
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.