European shares open higher thanks to mining stocks

European shares rose on Monday as mining stocks rose on hopes of rising demand from China, while caution prevailed after a top policymaker at the Federal Reserve said the bank would not “relax” its fight against inflation.

The pan-European Stoxx 600 index rose 0.1 percent by 0811 GMT, after posting its biggest weekly gain in nearly eight months on Friday.

The basic resources index rose 0.7 percent as copper prices remained near their highest levels in five months amid supportive measures from the Chinese government for the struggling real estate sector.

Federal Reserve Governor Christopher Waller said on Sunday that markets should now pay attention to the “end point” of interest rate increases rather than the pace of each move, and that the end point was still likely “a long way off”.

British event organizer Informa PLC jumped 5.5 percent to the top on the Stoxx 600 index, after the company raised its full-year profit forecast.