European Stocks Open Higher Before Data

European stocks opened higher on Tuesday, September 1 after recording slight gains in August, but sentiment was unstable ahead of important economic data likely to indicate an erratic recovery from the Coronavirus.

The European Stoxx600 index rose 0.4% in early trade, supported by better-than-expected data for the industrial sector in China.

Sectors affected by China, such as basic resources, rose 0.6% and the auto industry rose 0.4%.

Markets are looking forward to local data on the industrial sector and inflation for August. The data is expected to show a slight decline from last month.

Telecom Italia rose 1.5% after the board of directors approved the sale of a minority stake in its communications network to the US investment firm KKR, while it supported the government’s plan to establish a single high-speed network with its rival, Open Fiber.