European stocks rise with support for reopening in China

European stocks rose on Monday, extending a positive start to the year for a second week, as China reopened its borders and US and European data eased concerns about the aggressive tightening of monetary policy by central banks.

The pan-European Stoxx 600 index was up 0.3 percent by 0812 GMT.

The index recorded its best weekly performance in nine months on Friday after a batch of positive data, including strong factory activity in the eurozone and lower inflation in the region, conscious of data that indicated a less severe recession than expected and an easing in price pressures.

Rate-sensitive technology stocks rose 1.2 percent.

Mining stocks gained 1.7 percent as base metals prices advanced, hoping for a recovery in demand from main consumer China.