European stocks end higher as miners scale 10-year peaks
European stocks ended higher on Monday as strong metals prices boosted miners, while a rise in bond yields supported shares of major banks amid optimism the worst of the COVID-19 pandemic had passed.
The pan-European STOXX 600 index ended 0.3% higher after its first weekly loss in eight last week. Basic resources stocks were among the best performers for the day, rising 1.9% to a 10-year closing high.
The sector was supported by Shanghai copper prices hitting 10-year highs, with prices of other metals also rising as vaccination programmes across major industrial hubs pointed to a recovery in demand.
Bank stocks were the top performers, rising 2% as major lenders were supported by rising euro zone bond yields.
Travel and leisure stocks rose 1.8% to a record closing high after a top European Union official said Americans who have been vaccinated against COVID-19 should be able to travel to Europe by summer.
Reference: Reuters
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