European shares rise on mining gains; tech lags

European equities started Thursday higher, with the STOXX 600 up 0.5% at 660.33 by 0807 GMT, Business Recorder reported. The index was close to its highest level in two months, reached during the previous session, as mining shares led gains and technology stocks weakened.

Basic resources advanced 2.7%, while ArcelorMittal climbed 6% after its core profit exceeded expectations. Brent remained below $100 a barrel amid expectations that Republican losses in the US midterms could make President Donald Trump less likely to intensify the Iran conflict. In technology, ASML fell 2.7% and Soitec lost 4.5% on worries that greater Democratic scrutiny could constrain US AI expansion; Rheinmetall dropped 14% after lowering its 2026 sales outlook for a second time in three months and citing delayed programme awards and ammunition revenue.