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European shares open higher on mining, luxury boost -Breaking

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© Reuters. The graph of the German share price index DAX is pictured at Frankfurt Stock Exchange, Germany. It was taken June 2, 2022. REUTERS/Staff

(Reuters] – European shares rose as miners and luxury stock helped China relax COVID-19 restraints. Meanwhile, investors remained alert for U.S. inflation data and information from the European Central Bank meeting this week.

The pan-European indicator rose 0.6% at 0719 GMT, after finishing 0.9% lower last Week on worries about aggressive monetary tightening by central banks.

The STOXX 600 saw 1.2% growth in miners, and luxury stocks topped the list. These sectors are heavily dependent on China and rose as authorities relaxed restrictions in Beijing and Shanghai during the weekend. [.SS] [MET/L]

London’s commodities heavy rose 1.1% following a prolonged weekend. The chairman of 1922 Committee Graham Brady told lawmakers that Boris Johnson, British Prime Minster, will have to face a confidence vote in Parliament by the Conservative Party’s lawmakers later Monday.

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