Jan 6 (Reuters) – European shares remained steady on Tuesday, following a surge past a key psychological milestone in the previous session, as higher precious metal prices lifted basic resources stocks.
The rally has stayed resilient as investors continue to rely on expectations of economic strength, despite rising geopolitical tensions following U.S. strikes on Venezuela.
The pan-European STOXX 600 has climbed 0.3% by 0814 GMT, a day after gains in defence and energy shares propelled it past the 600-point mark for the first time.
The basic resources index rose 1% due to higher prices of precious metals.
Germany’s DAX index added 0.2% to a record high. Strategists at Goldman Sachs estimate that the country’s fiscal stimulus will be a key pillar of support for euro zone growth this year.
Spain’s IBEX rose 0.4%, hitting a record high.
The focus will be on a busy slate of data releases on Tuesday, when traders will sift through German inflation figures and a sweep of manufacturing readings from the U.S. and Europe, including the UK, France, Germany and Italy.
In France, preliminary data showed that consumer prices in December rose slightly less than expected. The stock benchmark was flat.
Among individual stocks, InPost shares jumped nearly 15% after Parcel locker company said it had received an indicative proposal regarding the potential acquisition of all its shares.
(Reporting by Niket Nishant in Bengaluru; Editing by Sherry Jacob-Phillips)
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