European shares open on the upside backed by mining stocks

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European stock markets were up in early trading on Tuesday after three trading days of losses, backed by shares of miner BHP Billiton and Antofagasta, which performed well, while Provident Financial fell after another warning of its gains.
The pan-European STOXX 600 index was up 0.6%, after yielding close to a five-month low on Thursday, while the Euro Stoxx 50 index was also gaining 0.6%.

The UK FTSE 100 index was 0.6%, and the German DAX strengthened 0.7%.

Shares of subprime lender Provident Financial plunged more than 48 percent after it issued its second profit warning in two months, canceled its dividend and announced the resignation of its chief executive.

On the opposite side, Europe’s raw material sector was recording its second profit session, supported by rising iron ore prices.

The results of the BHP Billiton and Antofagasta miners were well received on the stock market and boosted the sector, with both groups advancing around 2%.

TOKYO BAG
The Nikkei index of the Tokyo Stock Exchange fell on Tuesday to close its fifth consecutive day of losses amid tension on the Korean Peninsula, although a sharp rally in metal stocks helped stabilize the market more large.

The Nikkei dropped 0.05% to 19,383.84 points, after traversing negative territory and positive. The benchmark fell for the fifth straight day to mark its longest streak of losses since April 2016.

Investors were cautious after the United States and South Korea began joint military exercises on Monday, raising tensions with North Korea, which called the trials “a rash step” toward a nuclear conflict.

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With over nine years of experience through various editorial positions at major news outlets including ITProPortal.com, TheNewsReports.com, TechieNews.co.uk among others, Ravi decided to build up on his interest in cryptocurrencies through CryptoCrimson.com. Ravi is a network security graduate from Liverpool John Moores University, UK. After a 4-year stint as network security consultant at various companies in the UK and India, Ravi’s interest for writing took him to online journalism in 2010.

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