European stocks rebound after China jitters

LONDON: Europe’s main stock markets rebounded Tuesday as investors reacted to company updates and regional economic data, a day after indices had slid on China slowdown concerns and Ukraine tensions.
London’s benchmark FTSE 100 index jumped 1.09 per cent to 6,591.49 points in afternoon trading—and in the wake of official data showing a drop in British inflation.
Frankfurt’s DAX 30 rallied 1.78 per cent to 9,352.19 points, with traders shrugging off news of falling German business confidence.
In Paris, the CAC 40 advanced 1.57 per cent to 4,343.67 points compared with Monday’s closing value.
“There was no shortage of early risers in the UK equity space ... as the rebound from six week lows gains momentum on positive corporate news,” said Alexander Young, senior trader at CMC Markets.
Meanwhile: Wall Street stocks reversed a two-day slide and moved higher in early trading on Tuesday as a US home-price index rose in January for the 24th consecutive month.
About 35 minutes into trade, the Dow Jones Industrial Average jumped 100.01 points (0.61 per cent) to 16,376.70.
In foreign exchange trading, the euro fell to $1.3782 from $1.3839 late on Monday in New York.
The European single currency dropped to 83.48 British pence from 83.88 pence, while the pound grew to $1.6510 from $1.6498 on Monday.
On the London Bullion Market, the price of gold fell to $1,305.02 an ounce from $1,310.75  Monday.
Britain’s 12-month inflation slowed to 1.7 per cent in February, the lowest level for more than four years, official data showed Tuesday.