European shares recover from 1-week low as trade talks resume

Reuters

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    MILAN, Feb 11 (Reuters) - Gain in heavyweight mining and
banking stocks helped European shares recover from one-week lows
on Monday as investors turned their focus to the start of a new
round of trade talks between Beijing and Washington.
    The STOXX 600  .STOXX  index was up 0.7 percent by 0828 GMT,
helped by a broad-based bounce, while Germany's trade-sensitive
DAX  .GDAXI  was up 0.6 percent and the UK's FTSE  .FTSE  added
0.7 percent.
    China struck an upbeat note as trade talks resumed with the
United States, but also expressed anger at a U.S. Navy mission
through the disputed South China Sea, casting a shadow over the
prospect for improved ties between them.  urn:newsml:reuters.com:*:nL3N20614C
    The basic resources index  .SXPP  rose 0.8 percent, leading
sectoral gainers, as China iron ore prices hit a record on
worries that supply from Brazil may fall after a dam accident.
 urn:newsml:reuters.com:*:nL3N2060W4
    Shares in Glencore  GLEN.L , Rio Tinto  RIO.L  and BHP 
 BHPB.L  were all up around 1 percent. Banks were also among the
biggest sectoral gainers with Banco BPM  BAMI.MI  up 3.3 percent
after the mid-sized Italian lender disclosed capital
requirements set by the European Central Bank.
    Deutsche Post  DPWGn.DE  rose 2.6 percent on a report saying
that Germany is set to grant the postal services firm a
higher-than-expected increase in postage for letters from the
summer to account for fewer letters sent and for higher costs. 
    Just Eat  JE.L  rose 1.3 percent after its shareholder Cat
Rock urged the British takeaway ordering website to start merger
discussions. Shares in rivals Delivery Hero  DHER.DE  and
Takeaway.com  TKWY.AS  both rose nearly 1 percent.
    Among the few fallers was Smith & Nephew  SN.L , down 2.6
percent, following a report it has held talks to buy U.S.
medical equipment maker NuVasive  NUVA.O  in a deal that would
be worth more than $3 billion.  

 (Reporting by Danilo Masoni; editing by Josephine Mason)
 ((Danilo.Masoni@TR.com; +39-02-66129734; Reuters Messaging:
danilo.masoni.thomsonreuters.com@reuters.net; On Twitter https://twitter.com/damasoni))

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