LONDON (MarketWatch) - European stocks advanced in early trading on Tuesday, led by companies most sensitive to the broader economy such as miners, construction firms and automakers, after Federal Reserve officials indicated that the U.S. economy hasn't yet suffered a severe slowdown.
The pan-European Dow Jones Stoxx 600 rose 0.9% at 365.47, led by cyclical companies including German construction firm Hochtief , French automaker Renault and Swedish miner Boliden .
In speeches on Monday, four Fed officials said the U.S. faces an increased risk of slowdown, but none said the risk has materialized yet, and a few played down the surprisingly weak August unemployment report, which showed a decline in job growth for the first time since 2003. That helped the Dow Jones Industrial Average finish 14 points higher, when it was 53 points lower at the time of the European close on Monday.
Federal Reserve Chairman Ben Bernanke will be speaking in Berlin on Tuesday, at 10 a.m. Eastern, in what could be his last opportunity to give clues as to what the U.S. central bank will do next week.
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