European stocks rose on optimism about the Chinese economy

European stocks rose on Monday, boosted by positive sentiment in Asian markets, amid investor optimism that a series of stimulus measures announced by China will help its slowing economy, and Novo Nordisk shares reached a new record high.

The European STOXX 600 index rose 0.6 percent by 0720 GMT, after losses that continued for three sessions in a row.

Mining company stocks increased 1.3 percent and led gains in European sectors, with iron ore futures rising amid optimism about the impact of China’s support for policies in the faltering real estate sector.

Informed sources told Reuters that China intends to take further measures, including easing home purchase restrictions.

Novo Nordisk shares rose 1.6 percent to a record high after the Danish pharmaceutical company said it had released an injectable weight-loss drug in Britain.

Novo, after its market value reached $424.7 billion, toppled LVMH from the throne of the largest listed company in Europe by market value on Friday.