European shares rally after China calms yuan fall

jueves 13 de agosto de 2015 07:19 GYT

* FTSEurofirst 300 up 1.9 pct

* Bounce-back for automakers, luxury stocks

* Nestle reports slightly disappointing sales

* TUI, Moller Maersk lead after updates

* Aegon, RWE fall on results disappointment (Adds quote, updates prices)

By Lionel Laurent

LONDON, Aug 13 (Reuters) - European shares bounced on Thursday after a 4 percent fall this week, tracking a late rally on Wall Street and gains in Asia on efforts by China's central bank to slow the sharp descent of the yuan that has rocked markets worldwide.

The pan-European FTSEurofirst 300 index was up 1.9 percent at 1,545.14, with national benchmark euro zone indexes broadly in line with that rise at 1112 GMT.

Automakers and luxury goods stocks, among the worst hit this week, were among the biggest gainers after China's central bank said that the was no reason for the market to fall further.   Continuación...