European Stocks Rise, Supported by Commodity Prices

European shares rose on Monday, led by mining and energy stocks as commodity prices rose, while investors awaited a series of business results, as several giant companies are scheduled to announce their results this week.

The pan-European Stoxx 600 index rose 0.02% by 0707 GMT after Asian indices rallied slightly.

Mining and energy shares jumped 1% and 0.7%, respectively, buoyed by multi-year oil prices, and copper prices advanced as stocks in Shanghai Stock Exchange warehouses fell to their lowest level in more than 12 years.

The focus is on a range of business results this week, including those of Facebook, Microsoft, Deutsche Bank, and Lloyds Banking Group, as well as the European Central Bank meeting in Frankfurt on Thursday.

Britain’s HSBC Holdings shares rose 0.4 percent after fears of bad loans linked to the pandemic were replaced by a $2 billion share buyback and a sudden increase in the bank’s third-quarter profit.