Miners, real estate lead gains
NN Group shares at near sixmonth highs
Bunzl gains after forecast hike
STOXX 600 up 0.6
Aug 29 Reuters European shares hit twoweek highs on Tuesday as mining stocks led gains tracking strength in metal prices and NN Group jumped after reporting firsthalf results.
The panEuropean STOXX 600 gained as much as 0.6 to 458.0 points.
NN Group advanced 10.4 to the top of the STOXX 600 and a near sixmonth high after the Dutch insurer said its capital position had improved in the first six months of 2023.
European miners climbed 1.4 as copper prices rose on a softer dollar. Topconsumer China39;s recent policy support, halving stamp duty on stock trades, also continued to buoy sentiment.
The fact that we are now seeing some serious moves by Chinese authorities to stoke growth will be incredibly welcomed by investors, said Danni Hewson, head of financial analysis at AJ Bell.
But that said, there is still the expectation that we have not reached critical mass yet; we are still expecting a degree of volatility.
Europe39;s largest bank HSBC, which also does business in China, gained 0.4 while insurer Prudential rose 3.9, boosting the STOXX 600.
UK39;s FTSE 100 outpaced regional peers, rising 1.4 to a twoweek high as London investors returned after a public holiday on Monday.
Realestate stocks jumped 1.4 in early trade, while yields across the euro zone edged lower.
Bucking the trend, Danish stocks eased 0.2 as shares of Novo Nordisk,…