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European shares bounce from brutal sell-off
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European shares bounce from brutal sell-off
Aug 6, 2024 12:50 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

Aug 6 (Reuters) - European shares rebounded on Tuesday

after hitting six-month lows in the previous session, resonating

a recovery across Asian markets, and buoyed in part by a

plethora of corporate earnings.

The STOXX 600 was up 0.8%, as of 0717 GMT, after

the continent-wide index logged on Monday its steepest three-day

decline since June 2022, closing below the key 500-point mark

for a second day.

Japan's Nikkei gained 9% after the markets witnessed

its largest single-day decline since 1987 in the previous

session.

The travel sub-index was the top gainer among

sectors, led by a 2.1% gain in InterContinental Hotels Group ( IHG )

after the Holiday Inn owner reported higher numbers in

the second quarter.

Among individual stock moves, Italian bank Monte dei Paschi

di Siena surged 8.2% ater it raised its profit

outlook.

Adecco gained nearly 5% even as the Swiss staffing

company flagged bleak hiring trends to persist in the third

quarter.

Shares of Zalando gained 4% after the online

fashion marketplace reported an 18.5% rise in its operating

profit for the second quarter.

Abrdn ( SLFPF ) gained 3.7% despite the British asset manager

reporting a modest dip in its assets under management in the six

months ended June 30.

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