Boris Roessler | Picture Alliance | Getty ImagesThe pan-Europeanwas 0.04% higher at 11:10 a.m. London time, off earlier highs, with all major regional indexes trading in the green. Mining stocks added 0.9% and autos gained 0.96%, although sectors including retail stocks were trading in negative territory.
Copper prices hit a near-six-week high on Tuesday, with three-month copper on the London Metal Exchange up 0.92% at 11:05 a.m. trading at $9,274.50 per metric ton. It comes after Federal Reserve Chair Jerome Powell on Friday gave histhat the central bank would cut interest rates at its Sept. 18 meeting. Lower rates tend to boost demand for commodities like metals.
European bourses had posted a mixed session on Monday when U.K. markets were closed for a national bank holiday.after Israel and Hezbollah traded strikes over the weekend, raising fears about a wider conflict in the Middle East. The uncertainty sent oil prices higher on Monday, but gains pared back on Tuesday.
Brent crude futures were last down by 0.90% to $80.71 a barrel and U.S. West Texas Intermediate crude declined by 1.02% to $76.65 a barrel at 10:50 a.m. London time.on Tuesday released a final reading of the country's second-quarter gross domestic product, saying that it fell by 0.1% from the previous quarter, in line with preliminary estimates.that shop prices in the U.K. fell into deflation territory for the first time in almost three years in August. Shop prices fell 0.
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