Commodities shares lead European equities higher, Burberry slumps

martes 18 de octubre de 2016 04:51 GYT

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* STOXX Europe 600 index up 1.2 pct

* Commodities-related stocks in demand

* Burberry slumps after update

By Atul Prakash

LONDON, Oct 18 (Reuters) - European shares bounced back on Tuesday, with commodities-related stocks leading the market higher after the prices of major metals and crude oil rose on a softer dollar.

The pan-European STOXX 600 index was up 1.2 percent by 0831 GMT after closing 0.7 percent lower in the previous session. However, the benchmark index is still down nearly 7 percent so far this year.

The market was helped by a rally of 2.4 percent in the STOXX Europe 600 Basic Resources index, the top sector gainer, as copper rose after the dollar eased from seven-month highs. Other metals, including gold, also rose as a weaker dollar made commodities cheaper for other currency holders.

The European oil and gas index also increased 1.5 percent on the currency moves and comments from some analysts markets might not be quite as over-supplied as thought.   Continuación...