Europe: Stocks rise on travel rebound, gains in Wall Street

[BENGALURU] European stocks rose on Thursday as a rebound in travel stocks and overnight strength in Wall Street helped offset concerns about China's slowing economy that dragged down miners.

The pan-European Stoxx 600 index rose 0.6 per cent by 7.17am GMT, bouncing off a six-week closing low hit in the previous session. Travel and leisure added 1.6 per cent, while automakers rose 1.2 per cent.

Miners including Rio Tinto, Anglo American and BHP Group were among the top drags as metal prices fell after China reiterated plans to release more metals from its reserves.

German automotive supplier Continental slumped 11.7 per cent to the bottom of Stoxx 600 after the spin-off of its unit Vitesco.

Utilities inched up 0.2 per cent, still under pressure amid concerns over measures to reduce energy bills in Spain and elsewhere. The index fell almost 3 per cent on Wednesday.

REUTERS