European stocks advanced, recovering some of the session’s earlier gains, after yesterday’s worst start to a year.
Commodity producers posted the biggest gains among Stoxx Europe 600 Index groups. Glencore Plc and ArcelorMittal added at least 3.5 percent, helping send the regional benchmark up 0.6 percent at the close of trading. It rallied as much as 1.1 percent in the first ten minutes of trading, and then fell as much as 0.5 percent in intraday trading.
The Stoxx 600 tumbled the most in a month yesterday as a selloff in China reignited concern that a slowdown there will hamper global recovery. A gauge of miners advanced 1.8 percent today, rebounding from their biggest drop in almost four weeks. Germany’s DAX Index added 0.3 percent, after its worst decline since August.
Among shares active on corporate news, Home Retail Group Plc surged 41 percent, the most on record, after J Sainsbury Plc said it approached the company regarding a possible offer and was rejected. Sainsbury fell 5.2 percent after briefly rising 8.1 percent after the announcement.