European stocks rise on travel rebound, gains in Wall Street By Reuters
(Reuters) – European stocks rose on Thursday as a rebound in travel stocks and overnight strength in Wall Street helped offset concerns about China’s slowing economy that dragged down miners.
The pan-European index rose 0.6% by 0717 GMT, bouncing off a six-week closing low hit in the previous session. Travel & leisure added 1.6%, while automakers rose 1.2%.
Miners including Rio Tinto (NYSE:), Anglo American (LON:) and BHP Group (NYSE:) were among the top drags as metal prices fell after China reiterated plans to release more metals from its reserves. [MET/L]
German car supplier Continental AG, (OTC:), fell 11.7% below the STOXX 600 bottom line following the spinoff of Vitesco.
Utilities saw a 0.2% increase, despite concerns about measures to lower energy costs in Spain and other countries. On Wednesday, the index dropped almost 3%.
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