European share indexes rose in a partial bounceback from large declines in response to turmoil in China.
The FTSE 100 rose 1.7%, or 102 points, in early trading on Tuesday to take the index of leading UK shares back above the 6,000 mark.
Mining shares, battered on Monday by fears about demand from China, were among the biggest risers. BHP Billiton, the world’s biggest miner, rose 5% and Anglo American gained 3.5%.
Germany’s Dax and the French CAC 40 also rose 1.7% while shares in Italy rose 2%.
But the gains only made up some of the ground lost in Monday’s slump when the main indexes all lost about 4%.
The European rally followed more ructions in markets across Asia. Chinese shares suffered a dramatic fall and hundreds of billions of dollars were knocked off global stocks.
Monday’s selloff was triggered by worries about China after last week’s devaluation of the yuan and bleak manufacturing figures cast doubt on the authorities’ ability to manage the economy.
The Shanghai composite index fell 6.4% in the first few minutes of trading on Tuesday before clawing back ground later in the day, only to close down 7.6% at 2,964.967. Tokyo’s Nikkei closed down nearly 4% at 17,806.70, while Australia’s ASX closed up nearly 3% at 5,137.25.
