:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/V3BXYGAF2MFEQNZYHA3GDDT5MY.jpg "European stock markets open higher thanks to the dynamism of mining companies 1")
Feb 20 (Reuters) – European shares opened higher on Monday, driven by miners betting on a recovery in demand in China, and auto parts maker Faurecia, which soared after issuing an upbeat forecast.
The pan-European STOXX 600 index rose 0.1%, while the basic resources sector index rose 0.9%.
Industrial metal prices rose on hopes of a recovery in demand from China, the main consumer, and supported by disruptions in global mining supplies.
It also lifted oil prices and pushed European energy stocks up 0.1%.
Forvia, the European automotive supplier born from the acquisition of Hella by Faurecia, forecasts higher sales for 2023, Faurecia growing by nearly 5% at the top of the STOXX 600.
Austrian Raiffeisen Bank International fell 6.5% after Reuters reported that the US sanctions authority had opened an investigation into the bank over its Russia-related dealings.
Markets around the world have been in a slump for much of the past week after stronger-than-expected US inflation data added to a growing number of figures showing that aggressive rate hikes will not have still not slowed prices enough to satisfy the Federal Reserve.
US markets remain closed on Monday for the Presidents Day holiday.
(Reporting by Shreyashi Sanyal in Bengaluru; Spanish edited by Flora Gómez)