European shares rise led by miners, banks; Burberry slumps

martes 18 de octubre de 2016 12:17 GYT
 

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) Adds details, updates prices)

* 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...