European stocks advanced, recovering some of the session’s earlier gains, after yesterday’s worst start to a year.
Commodity
producers posted the biggest gains among Stoxx Europe 600 Index groups.
Glencore Plc and ArcelorMittal added at least 3.5 percent, helping send
the regional benchmark up 0.6 percent at the close of trading. It
rallied as much as 1.1 percent in the first ten minutes of trading, and
then fell as much as 0.5 percent in intraday trading.
The
Stoxx 600 tumbled the most in a month yesterday as a selloff in China
reignited concern that a slowdown there will hamper global recovery. A
gauge of miners advanced 1.8 percent today, rebounding from their
biggest drop in almost four weeks. Germany’s DAX Index added 0.3
percent, after its worst decline since August.
Among
shares active on corporate news, Home Retail Group Plc surged 41
percent, the most on record, after J Sainsbury Plc said it approached
the company regarding a possible offer and was rejected. Sainsbury fell
5.2 percent after briefly rising 8.1 percent after the announcement.
Source: Bloomberg
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