European shares inched higher on Monday, with sustained gains in miners on bets of a demand recovery in China offsetting a fall in industrials and shares of Telecom Italia.
closed 0.1% higher ahead of a slew of economic data due later this week.climbed 2.4% after prices of industrial metals rose on hopes of a recovery in demand from top consumer China and on support from global mining supply disruptions.
Global markets were bogged down for much of last week after hotter-than-expected U.S. inflation data added to a growing pile of evidence that aggressive rate hikes have not yet cooled prices to the Federal Reserve's satisfaction. "It seems like a little bit of a of a pause to assess what's going on and a lack of direction really," said Daniela Hathorn, senior market analyst at Capital.com.
"We're still not sure about everything that's going on with the latest data showing that the U.S. economy might not be slowing as much as we thought. So, people are still trying to digest what that means."
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