LONDON Oct 18 European shares bounced back
early on Tuesday, with commodities-related stocks leading the
market higher after prices of major industrial metals and crude
oil rose on a softer dollar.
The pan-European STOXX 600 index rose 1.1 percent.
The STOXX Europe 600 Basic Resources index rose 2
percent, the top sector gainer, as copper prices gained after
the dollar eased from seven-month highs. Other metals, including
gold, also rose as a weaker dollar made commodities
cheaper for other currency holders.
The European oil and gas index also advanced 1.4
percent on the currency moves and as some analysts said markets
might not be quite as oversupplied as suggested by many, with
global inventories rising less than expected.
Shares in Rio Tinto, Randgold Resources,
Fresnillo, Royal Dutch Shell and BP
rose 1.2 to 2.2 percent.
On the downside, shares in French testing, inspection and
certification company Bureau Veritas fell 4.5 percent
after the company cut its outlook for full year 2016 as the
weakness in the oil and & gas and shipping markets weighed on
(Reporting by Atul Prakash; Editing by Dominic Evans)