European shares rise but set for worst week since late Aug on China woes
* Pan-European index up 0.8 pct, down 4.5 pct so far this week
* Miners, autos lead gains as China rebound soothes mood
* Tesco boosted by upgrade
* ARM among top losers after warnings from Apple suppliers (Adds details)
By Danilo Masoni
MILAN, Jan 8 (Reuters) - European shares inched higher on Friday, steadying a little after this week's sell-off on concerns over China, where stocks climbed after Beijing halted use of a new circuit breaker mechanism.
The pan-European FTSEurofirst 300 was on track for its steepest weekly drop since late August, however, when markets were similarly hit by worries over China, the world's second-largest economy.
By 0905 GMT, the FTSEurofirst 300 index was up 0.8 percent but was still on track for its steepest weekly drop since late August. The euro zone's blue-chip Euro STOXX 50 index also advanced by 0.7 percent.
China's major stock indexes rose sharply on Friday after Beijing stopped using a new circuit breaker mechanism that had halted trading twice this week and had been blamed for exacerbating the sell-offs it was designed to limit. Continuación...