European stocks rise, supported by gains in the mining sector

European stocks rose on Tuesday, supported by gains in the mining sector after hopes stemming from an upbeat outlook for the Chinese economy sent metals prices higher, while JD Sports shares fell even after the British sportswear retailer maintained its earnings forecast.

The pan-European Stoxx 600 index rose 0.5 percent by 0813 GMT, ending a losing streak of six straight sessions.

Chinese Premier Li Keqiang said the country’s economic growth in the second quarter will exceed the first quarter, and the annual economic growth target of five percent is expected to be achieved.

Mining companies topped the gains of the STOXX 600 index, as the sector index rose 1.4 percent with the increase in gold and other metals prices. The European index also got a big boost from the financial sector, led by the gains of companies focused on China, including the insurance company Prudential.

Investors will also focus on comments made by European Central Bank President Christine Lagarde at a conference in Sintra later on Tuesday for more clues on future monetary policy.

Shares of JD Sports fell 4.1 percent to the bottom of the Stoxx 600 index after the company reported a decline in its North American business in June.