European shares rise as miners gain to offset U.S. recession worries

Kitco Media
By Reuters
Published:
Updated:
Reuters
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) April 6 (Reuters) - European shares edged higher on Thursday, heading into a long Easter weekend break, as mining and oil and gas stocks helped outweigh concerns of a U.S. economic slowdown that were triggered by weak data. The pan-European STOXX 600 index inched up 0.3%. The basic resources index led the gains, rising 1.1%, while telecommunication shares lost 0.7%. Wall Street closed lower on Wednesday after data showed private employers hired far fewer workers than expected in March. German industrial production rose significantly more than expected in February due, in part, to vehicle manufacturing, increasing 2.0% on the previous month. Investors will keep a close eye on a key U.S. jobs report on Friday for more clues on the outlook for global interest rates. Credit Suisse rose 0.6% after Switzerland instructed the bank to cancel or reduce all outstanding bonus payments for the top three levels of management. (Reporting by Shubham Batra in Bengaluru; Editing by Savio D'Souza)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.