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Europe: Stocks rally at open

European shares rose on Wednesday after reaching 2015 lows as a bruising quarter ended, with a Chinese tax cut boosting automakers while miner Glencore rallied after saying it had no solvency issues.

[LONDON] Europe's main stock markets rallied about 2.5 per cent in opening trade on Thursday, inspired by bumper gains overnight on Wall Street and earlier in Asia.

In initial trade, London's benchmark FTSE 100 index went up 2.46 per cent to 6,126.40 points, Frankfurt's DAX 30 jumped 2.74 per cent to 10,271.33 and the CAC 40 in Paris soared 2.47 per cent to 4,612.27 points.

Asian equities took their cue from Wall Street on Thursday, rallying after days of wild swings, but dealers cautioned that the spectre of the slowing Chinese economy meant more turbulence lay ahead.

US stocks snapped a six-day losing streak after one of the most senior officials in the Federal Reserve said the turmoil that has gripped world financial markets had weakened the case for a rate rise in September.


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