European shares rise as retail stocks rally

LONDON, Rabi’II 2, 1437, Jan 12, 2016, SPA — European shares climbed higher on Tuesday after a key equity index had hit its lowest level in more than three months, with a rally in retailers following some positive company updates underpinning the market, Reuters reported.

The pan-European blue-chip FTSEurofirst 300 index was up 0.4 percent, after having fallen earlier in the session to its lowest level since late September.

However, market sentiment remained fragile on further volatility in Chinese markets and lingering concerns about the pace of economic growth in the world’s second largest economy.

China’s equity markets, which tumbled 10 percent last week and a further 5 percent on Monday, remained volatile. The Shanghai Composite Index was up 0.2 percent, while the CSI300 index rose 0.7 percent.

12:04 LOCAL TIME 09:04 GMT