(Reuters) – European shares inched up early on Monday but remained rangebound as gains in commodity-linked stocks were offset by uncertainty around the outlook for interest rates.
The pan-European STOXX 600 index rose 0.1% by 0716 GMT, hovering below record highs hit last week.
Miners and oil & gas climbed 0.8% and 0.7%, respectively, leading gains among European sectors as copper prices surged to record highs helped by China’s property support measures and better-than-expected industrial data. [MET/L]
Gold prices also hit fresh peaks, while crude prices edged higher amid political uncertainty in majot oil producing countries including Iran and Saudi Arabia. [GOL/][O/R]
Countering the positive impact from rising commodity prices on equities, euro zone sovereign bond yields rose after officials from the European Central Bank and the Federal Reserve warned that the monetary easing path remained uncertain. [GVD/EUR]
(Reporting by Sruthi Shankar in Bengaluru; Editing by Nivedita Bhattacharjee)
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