Europe open: Shares up as China reopening boosts sentiment

European shares rose at the open on Monday, with sentiment boosted by the reopening of borders in China and a Friday Wall Street rally driven by jobs data easing rate hike worries.

The pan-European Stoxx 600 was up 0.35% by 0844 GMT. Asia-Pacific markets were higher as Hong Kong and mainland China resumed quarantine-free travel over the weekend, ending a zero-Covid policy which kept borders effectively closed for almost three years.

Mining stocks were up on hopes the world’s second-biggest economy would start to recover, with Antofagasta, Glencore and Anglo American all making gains.

In Germany, industrial production rose a little more than expected in November, according to figures released on Monday by Destatis.

Production was up 0.2% on the month following a downwardly-revised 0.4% drop in October, coming in ahead of expectations for a 0.1% gain.

On the year, industrial production fell 0.4% in November following a 0.2% decline the month before.

Production in industry excluding energy and construction grew 0.5% in seasonally and calendar adjusted terms, compared with the previous month.

Reporting by Frank Prenesti for Sharecast.com