European shares rise but set for worst week since late Aug on China woes

viernes 8 de enero de 2016 05:37 GYT

* 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...