Mining stocks power gains in Europe on recovery optimism

  • Reuters
  • Stock Market News
Mining stocks power gains in Europe on recovery optimism
Credit: © Reuters.

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Feb 15 (Reuters) - European shares scaled one-year highs on Monday and mining stocks tracked a jump in copper prices as bets of more U.S. stimulus fuelled optimism around a faster global economic recovery this year.

The pan-European STOXX 600 .STOXX rose 0.6%, with Rio Tinto RIO.L , BHP Group BHPB.L and Anglo American AAL.L bolstering the index. Banks .SX7P and energy stocks .SXEP were also among the biggest gainers.

Most European bourses were higher by 0813 GMT, while Asian shares hit record highs earlier in the day.

Trading volumes are expected to remain thin on Monday with markets in China, Hong Kong and the United States shut for local holidays. MKTS/GLOB

In company news, Bollore SA BOLL.PA surged 14.1% to the top of the STOXX 600 as Vivendi VIV.PA said it planned to distribute 60% of Universal Music's capital to investors and aimed to list its most-prized asset by the end of the year. plan represents part of a process launched by Vivendi's top shareholder, French billionaire Vincent Bollore, to cash in on the music industry's revival.

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