European Shares Rebound From Four-Day Rout as Carmakers Rally
- Auto stocks climb as China forecasts faster 2016 sales growth
- Energy companies reverse earlier gains as oil resumes decline
European Stocks Close Higher
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A rally in carmakers pushed European stocks to their best performance of the year as investors assessed valuations following a four-day losing streak.
Auto-related companies rose the most on the Stoxx Europe 600 Index after an industry association forecast an acceleration in Chinese sales in 2016. Energy stocks reversed gains, falling after oil retreated toward a 12-year low. Declines of more than 2.6 percent each in Rio Tinto Group and BHP Billiton dragged a gauge of miners to its lowest level since July 2003 as commodity prices slipped.