Charting the Markets: Equities Tumble, Xi Comes to Town

InterContinental revpar jumps worldwide except greater China, Whitbread stock brews up and the renminbi rises
Photographer: Ben Stansall/AFP/Getty Images
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European equities fell the most in six days after rising at the open. The culprit? Basic resources and big oil. The Shanghai Composite, on the other hand, rose almost 1.2 percent on Tuesday. China's stock market has rattled global investors this year, but it's still up by close to 6% year to date.

Intercontinental was Tuesday morning's best performer on the Stoxx 600. Shares in the world's largest provider of hotel rooms rose the most since July – more than 5 percent at one point. InterContinental said the amount of money it took in per hotel room – known in hotel investor jargon as "revpar" – rose 4.8% in the third quarter. That performance beat estimates. Revpar grew a surprising 7.8 percent in Europe, the bright spot for Intercontinental globally. Greater China was the weak spot with revpar falling by close to 1 percent after Hong Kong and Macau saw double-digit falls in revenue. On a conference call with investors, the company's CFO said Airbnb, the website/home-sharing service, is not affecting their core business.