European shares climb, Glencore and Inditex outperform
LONDON, Sept 16 (Reuters) - European shares climbed on Wednesday, with miner Glencore and fashion group Inditex outperforming, as the region's stock markets were buoyed by gains overnight on U.S. and Asian equities.
The pan-European FTSEurofirst 300 index advanced by 0.9 percent while the euro zone's blue-chip Euro STOXX 50 index also rose 1 percent.
Glencore rose 3.9 percent after launching a $2.5 billion share placement late on Tuesday, while Inditex progressed by 3 percent after reporting higher sales.
Asian shares followed Wall Street higher on Wednesday, albeit in thin volume, and short-term U.S. bond yields held near 4-1/2 year highs as investors braced for the possibility of the first U.S interest rate hike since 2006.
Although the FTSEurofirst 300 has risen some 8 percent from a low hit last month, it remains down around 12 percent from its peak of two months ago, due to concerns about the impact to markets if the Fed does rate rates and on worries over China. (Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)
© Thomson Reuters 2017 All rights reserved.