LONDON (Reuters) - Shares in European mining and basic resources companies jumped in early dealings on Tuesday after a rally in copper and metals prices following pledges by China to step up support for its economy.
The STOXX Europe Basic Resources index rose as much as 2.8% to its highest level since July 14. It was on track for its biggest daily jump since a 3.8% rise on July 12.
Diversified miners Anglo American (LON:AAL) and Rio Tinto (LON:RIO) led the index higher, both rising over 4%, while London-listed copper miner Antofagasta (LON:ANTO) jumped 3.9% as copper futures on the London Metal Exchange rose 1% on the day at $8,606 a tonne.
China's top leaders pledged on Monday to step up help for the economy amid a tortuous post-COVID recovery and signalled there would be more to come for the property industry.