European shares rise, supported by Evergrande, gains in the travel and tourism sector By Reuters

European shares rise, supported by Evergrande, gains in the travel and tourism sector By Reuters
European shares rise, supported by Evergrande, gains in the travel and tourism sector By Reuters

© Reuters. Traders work at the Frankfurt Stock Exchange, Germany, on Tuesday. Reuters photo.

(Reuters) – European shares rose on Wednesday, recovering from early-week losses after debt-laden China’s Evergrande said it would make some interest payments, while travel and leisure shares jumped to a 14-week high.

Frankfurt-listed Evergrande shares jumped 15.1 percent after hitting multi-year lows in the previous session.

The real estate developer said it would make interest payments on its local bonds, easing investor concerns about the fallout from its financial problems.

Supporting the travel and leisure index, Inten shares jumped 8.2 percent to an all-time high after the British gambling company revealed a 22.4 billion takeover bid from Boston-based Draft Kings.

The pan-European Stoxx 600 index rose 0.8% by 0720 GMT, extending the recovery it made on Tuesday, while commodity-related shares were also among the biggest gainers.

(Prepared by Mahmoud Salama for the Arabic Bulletin – Edited by Mounir Al-Bouti)

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Source

European shares rise supported Evergrande gains travel tourism sector Reuters

 
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