ROME: European stocks nudged higher Monday, supported by British shares as mining stocks strengthened, but ongoing concerns about Greece’s debt troubles limited gains on the broader market.
The Stoxx Europe 600 SXXP, -0.14% nudged higher by 0.1% to 400.53, with consumer-services, energy and mining shares moving up.
Gains for miners helped push the FTSE 100 UKX, +0.31% up by 0.4% to 7,071.94. The sector advanced after China’s central bank cut interest rates for the third time in six months, another effort to curb economic slowing in the country, a major buyer of metals and other commodities. Shares of Glencore PLC GLEN, +2.40% gained 2.1%, and BHP Billiton PLC BLT, +2.05% BHP, +0.37% BHP, +1.66% rose 1.8%.
Greece’s Athex Composite GD, -3.26% slid 3.1% to 813.08 as investors awaited the outcome of the Eurogroup finance ministers meeting on Greece, although it appeared unlikely any breakthrough would take place. Greek bond prices fell, pushing the yield on 2-year debt up by 38 basis points to 20.3% as prices fell. The yield on 10-year bonds rose 2 basis points to 10.6%.
