UPDATE 3-Miners, UBS help European stocks claw back some losses [Reuters]
JULIUS BAER GRP UNSP/ADR (JBAXY)
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Source: Reuters
By Sruthi Shankar 3 Min Read (Reuters) - European stocks stabilised on Tuesday after their worst sell-off this year in the previous session, helped by a handful of positive corporate earnings and production updates from miners. The pan-European STOXX 600 index rose 0.5%, after worries about the fast-spreading coronavirus Delta variant and slowing economic growth had knocked 2.3% off the index on Monday. Miners, among sectors that bore the brunt of Monday’s bruising selloff, rose 1.2% after BHP Group and Anglo American provided upbeat production numbers. Swiss bank UBS climbed 4.0% after it posted a 63% jump in second-quarter net profit, helped by a booming wealth management business. Peers Credit Suisse and Julius Baer also rose. “Although the U.S. economy is in a slowdown phase and we expect European growth to peak this summer, we continue to favour risk assets over a 12-month horizon,” analysts at BCA Research wrote in a note. “The UK is a case in point — broad-based vaccinations a
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