European shares rise at open with miners leading gains; NN Group shines

(Reuters) – European shares opened higher on Tuesday, with mining stocks leading gains tracking strength in metal prices, while NN (NASDAQ:) Group soared after reporting first-half results.

By 0710 GMT, the pan-European gained 0.6%, its highest in two weeks.

European miners added 1.7% as prices rose on a softer dollar and policy support from top consumer China.

China’s finance ministry said in a brief statement on Sunday that it was reducing the 0.1% duty on stock trades.

NN Group advanced 8.4% after the Dutch insurer said its capital position had improved in the first six months of 2023.

Real-estate stocks jumped 1.7% in early trade.

UK’s rose 1.3% as London investors returned after a public holiday on Monday. Bunzl (OTC:) advanced 3.5% after the British business supplies distributor hiked its annual adjusted operating profit forecast.

Telecom Italia (BIT:) added 2.3% after Milan approved two decrees providing for the economy ministry to take a stake of up to 20% in the phone group’s landline grid.