European shares turn higher after inflation data

European shares turned higher on Monday, after key inflation reading in the euro zone released, which showed prices rise to new record levels in October.

According to “Reuters”, the European Stoxx 600 index rose 0.2 percent after closing at a high on Friday, while the energy index fell 1.2 percent and mining 0.7 percent by 14:16 GMT.

Oil and metal prices were hit after China released weaker-than-expected factory activity data and on fears that the country’s expansion of anti-Covid-19 curbs would hurt demand.

It should be noted that the key inflation reading (CPI) in Eurozone recorded new high in October at 10.7%.