European shares rise led by miners, banks; Burberry slumps
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* STOXX Europe 600 index up 1.5 pct
* Basic Resources biggest sectoral gainer
* Banks rise after Bank of America upgrade
* Burberry slumps after update
By Danilo Masoni and Atul Prakash
MILAN/LONDON, Oct 18 (Reuters) - European shares bounced back on Tuesday, with mining stocks and banks leading the way, while Burberry slumped following its earnings update.
The pan-European STOXX 600 index rose 1.5 percent to its highest level in nearly one week. However, the benchmark index is still down over 6 percent so far this year.
The market was helped by a 2.8 percent rally in the STOXX Europe 600 Basic Resources index, the top sector gainer, as metals prices rose, boosted by strong credit data in top metals consumer China and a weaker dollar. Continuación...