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European shares steady, underpinned by gains in mining stocks
December 28, 2016 / 8:23 AM / a year ago

European shares steady, underpinned by gains in mining stocks

MILAN, Dec 28 (Reuters) - European shares were flat in early trade on Wednesday with gains in mining stocks underpinning the market while British builder Bovis Homes slumped after a profit warning.

The STOXX Europe 600 was flat by 0808 GMT, while Britain’s FTSE, which reopened on Wednesday after a Christmas break, was up 0.1 percent.

Bovis fell 5 percent after saying it would not deliver the number of houses it originally expected in 2016, resulting in a likely miss against market profit forecasts.

The Basic Resources STOXX index rose more than 2 percent, making it the biggest sectoral gainer, tracking higher metal prices. Miners BHP Billiton, Anglo American and Fresnillo were the biggest gainers, up between 2.8 and 3.9 percent.

Other sectors were trading between a rise of 0.5 percent and a fall of 0.4 percent. (Reporting by Danilo Masoni; editing by John Stonestreet)

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