European shares open higher ahead of manufacturing, inflation data

This post was originally published on this site

https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEG8027I_L.jpg

The pan-European STOXX 600 index (STOXX) rose 0.4% in early trade, taking some support from better-than-expected Chinese manufacturing data.

China-sensitive sectors such as basic resources (SXPP) and automobiles (SXAP) rose about 0.6% and 0.4%, respectively.

Markets were awaiting local manufacturing and inflation readings for August. Both data sets are expected to show a slight decline from the prior month.

In corporate news, Telecom Italia (MI:TLIT) rose 1.5% after its board approved a sale of a minority stake in its last-mile grid to U.S. investment firm KKR (N:KKR), while endorsing a government plan to create a single ultrafast network with rival Open Fiber.