European shares rise on mining stocks

European shares rose at the start of trading on Tuesday, supported by major mining companies, but investors remained cautious ahead of key economic data due this week.

The pan-European STOXX 600 index rose 0.2% to 519.33 points, while Germany’s DAX opened flat after detailed GDP data earlier on Tuesday showed the German economy contracted by 0.1% in the second quarter of 2024.

The Swedish index was also flat at 2,566.69 points after data showed producer prices fell 1.4% in July.

The raw materials sub-index outperformed all sectors in the region with a jump of more than 1%, after copper prices rose to their highest in nearly six weeks on optimism over a possible interest rate cut in the United States.