European Stocks Rebound after Selloff, Miners Jump


European stocks bounced back on Wednesday after a sharp selloff in the previous session, as surging commodity prices lifted mining stocks, while the earnings season kept its positive momentum, brightening the mood in the markets.

The panEuropean STOXX 600 index rose 0.8 in early trading, with the German DAX jumping 0.9 and UKs FTSE 100 gaining 0.6.

Shares in big UK miners including Rio Tinto, BHP Group and Anglo American rose about 2 each as copper prices rose past a key psychological level of 10,000 a tonne, buoyed by optimism about a speedy recovery in the global economy.

Tech stocks rose 1.4 after a 3.7 plunge in the previous session.

Stellantis edged up 0.8 after the carmaker reported a betterthanexpected quarterly revenue but warned that a global shortage of semiconductors would affect production this quarter more heavily.

German fashion house Hugo Boss rose 2.9 as it saw firstquarter sales almost double in mainland China, and its casual business returned to growth.

Reporting by Sruthi Shankar in Bengaluru; Editing by Anil DSilva

Source Reuters

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