STOXX 600 up 0.2
Miners top gainers on China stimulus hopes
Generali rises as investor gets nod to hike stake
Euro zone factory downturn deepens in June

July 3 Reuters European shares gained on Monday, boosted by gains in Italy39;s biggest insurer Generali after investor Delfin received a regulatory nod for a stake increase, while hopes of more policy stimulus from China also lifted sentiment.

The panEuropean STOXX 600 index was up 0.2 by 829 GMT, kicking off the first day of the second half of the year on an upbeat note.

Shares of Assicurazioni Generali hit their highest in over a year and were last up 5.0 after news that Italy39;s insurance regulator had authorised investor Delfin to raise its stake to above 10 in the company sparked anticipation that an investor battle for control will resume.

Shares of Mediobanca, which counts Delfin as its single biggest shareholder, rose 2.5.

The moves helped Italy39;s financialsheavy benchmark FTSE MIB climb 0.9, surpassing other bourses in the region, which were up between 0.1 and 0.4.

The index was at its highest since 2008 a level it also hit on Friday.

The broader STOXX 600 had gained 8.7 in the first half of the year, largely due to strong gains early into 2023. However, the rally petered out later as China39;s weak economic recovery and evidence of slowing growth in the euro zone took a toll on sentiment.

Fresh reports on Monday painted a dour picture of the euro zone economy, with a survey showing manufacturing…