European shares recover from worst session in two months; UMG soars in debut [Reuters]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: Reuters
European shares bounce after worst session in two months; UMG soars in debut By Sagarika Jaisinghani 3 Min Read (Reuters) -European shares rose on Tuesday after their biggest fall in two months on easing worries about the spillover from the crisis at China’s Evergrande, while music label Universal Music Group soared 38% in its stock market debut. The pan-European STOXX 600 was up 0.9% by 0743 GMT after sinking to a two-month low in the previous session. Media, mining and energy stocks led early gains, while Germany’s DAX rebounded from its lowest level since late-July. U.S. stock futures also bounced a day after global markets were roiled by concerns the potential default by Evergrande, the world’s biggest property developer, could hurt China’s real estate sector, banks and the global economy. [MKTS/GLOB] Evergrande, struggling for cash, owes $305 billion. Focus this week is also on policy meetings at a slate of central banks, including the U.S. Federal Reserve, with investors expect
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