European Shares Rise on Banks, Miners

Banks and mining companies led gains in European stock markets early Tuesday as investors waited for fresh data on the health of the region's economy.

Business surveys due later in the session will help show how European economies have fared since the U.K.'s Brexit referendum, and will be closely watched by officials at the European Central Bank before their meeting on Sept. 8.

The Stoxx Europe 600 was up 0.5% in the early minutes of trading, shrugging off a fresh fall in crude oil prices and a mixed session in Asia.

Earlier, shares in Japan fell 0.6% as the dollar retreated against the yen, weighing on shares of export-heavy car companies. Investors there were also focused on a speech from Bank of Japan Governor Haruhiko Kuroda, after he hinted in an interview over the weekend at a further cut to interest rates.

Shares in Hong Kong were slightly lower, while Australia's S&P ASX 200 was up 0.7%, led by stocks of major banks as investors focused on corporate earnings.

In commodities, Brent crude oil was down 0.4% at $48.96 a barrel after its steepest daily drop this month. The decline in oil prices sent the S&P 500 to a slightly lower close in another day of low volume trade.

Robb M. Stewart contributed to this article.

Write to Riva Gold at [e-mail]

(END) Dow Jones Newswires

August 23, 2016 04:15 ET (08:15 GMT)

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