European shares rise on China PMI data; miners up

LONDON, Sept 1 (BestGrowthStock) – European shares rose on
Wednesday, led by mining stocks boosted by a manufacturing
rebound in China and the media sector after Vivendi (VIV.PA: )
raised its annual profit targets.

Miners were buoyed by optimism about China’s manufacturing
base after positive purchasing manager data. Anglo American
(AAL.L: ), Antofagasta (ANTO.L: ), BHP Billiton (BLT.L: ), Rio Tinto
(RIO.L: ) and Xstrata (XTA.L: ) gained 0.8 to 1.6 percent.

By 0709 GMT, the pan-European FTSEurofirst 300 (.FTEU3: )
index of top shares was 0.5 percent higher at 1,031.54 points.
“The market is higher on the China PMI data, though everyone
will be waiting for the U.S. ISM, which is seen weaker and the
ADP Employment report, later in the session,” said
Giuseppe-Guido Amato, strategist at Lang & Schwarz.

Europe’s largest telecom and entertainment group Vivendi
gained 3.3 percent. The company raised its annual profit targets
when posting forecast-beating first-half results boosted by its
newly acquired Brazilian telecoms unit and video games.
(Reporting by Joanne Frearson)

European shares rise on China PMI data; miners up