European shares rebounded on Tuesday after hitting six-month lows in the previous session, resonating a recovery across Asian markets, and buoyed in part by a plethora of corporate earnings.
The STOXX 600 was up 0.8%, as of 0717 GMT, after the continent-wide index logged on Monday its steepest three-day decline since June 2022, closing below the key 500-point mark for a second day.
Japan’s Nikkei gained 9% after the markets witnessed its largest single-day decline since 1987 in the previous session.
The travel sub-index was the top gainer among sectors, led by a 2.1% gain in InterContinental Hotels Group after the Holiday Inn owner reported higher numbers in the second quarter.
Among individual stock moves, Italian bank Monte dei Paschi di Siena surged 8.2% ater it raised its profit outlook.
European stocks hit near six-month low on US recession fears
Adecco gained nearly 5% even as the Swiss staffing company flagged bleak hiring trends to persist in the third quarter.
Shares of Zalando gained 4% after the online fashion marketplace reported an 18.5% rise in its operating profit for the second quarter.
Abrdn gained 3.7% despite the British asset manager reporting a modest dip in its assets under management in the six months ended June 30.
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