European shares rose, supported by the reopening in China and optimism about interest rates

European stocks rose on Wednesday, supported by the rise in shares of the German company Bayer and the French LVMH group, amid investor optimism about the reopening of the economy in China and hopes of slowing the pace of raising US interest rates.

The Stoxx Europe 600 index was up 0.1 percent by 0818 GMT.

Wall Street closed higher on Tuesday and European stocks pared their losses amid investors’ risk appetite due to expectations of lower inflation rates in the United States this week and US Federal Reserve Chairman Jerome Powell’s refrain from talking about interest rate policy.

Interest rate-sensitive technology stocks rose 0.8 percent.

Energy stocks rose 1.0% and mining stocks rose 1.7%, supported by higher commodity prices, amid investor optimism about reopening the borders of China, the world’s largest commodity consumer.

Germany’s Bayer rose 2.1 percent after Bloomberg reported that Bluebell was seeking to separate from the German drugmaker.

French group LVMH rose 0.7 percent after group chairman Bernard Arnault consolidated his family’s grip on the luxury goods maker and put his daughter Delphine in charge of one of its major brands, Christian Dior.