European Shares Climb as Miners Lead Gains Amid Economic Data Anticipation

European shares edged higher on Tuesday, led by heavyweight miners, as investors awaited key economic data from Germany and Spain. The pan-European STOXX 600 index rose by 0.2%, with the basic resources sub-index seeing significant gains. Key economic indicators from various regions are expected to guide the European Central Bank's policy actions.

European shares inched higher on Tuesday, buoyed by heavyweight mining companies, as investors remained cautious ahead of this week's crucial economic data releases.

The pan-European STOXX 600 index climbed 0.2% to 519.33 points by 0715 GMT. Investors are keenly anticipating key economic data from Germany and Spain and the European Union's inflation report on Friday, which will be vital in deciphering the European Central Bank's future policy direction.

While Germany's benchmark DAX remained flat following a report showing a 0.1% GDP shrinkage in Q2 2024, Sweden's market held steady at 2,566.69 points amid a 1.4% drop in the producer price index in July. The basic resources sub-index led regional gains with a 1% increase as copper prices surged.

Bunzl's shares soared 11.6% after the British company's upward revision of its annual adjusted operating profit forecast. However, Daimler Truck Holding AG and Flughafen Zuerich faced declines after ratings downgrades and missed earnings, respectively. Associated British Foods also saw a dip following a downgrade from Deutsche Bank.

(With inputs from agencies.)