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European stocks attempt a tepid-recovery, Glencore rebounds +11%

FXStreet (Mumbai) - Stocks on the European bourses halted its recent downslide and pose a modest recovery as rebounding mining stocks continue to boost regional indices. However, the gains are likely to remain capped as persisting negative global sentiment and Asian equities sell-off continue to weigh on investors’ sentiment.

Glencore, VW stocks remain in the spotlight

The shares of the mining giant, Glencore, rebounded nearly 10% on Tuesday after falling to record lows on Monday after Investec raised concerns over the company’s piling debt amid plunging commodity prices. However, rallying Glencore prices failed to lift the FTSE, with the London’s benchmark still struggling in the red, down -0.24% at 5,942.

While the German DAX received fresh impetus from rebounding auto stocks, although Volkswagen traded lower. Among the other indices, the French CAC 40 index gains 0.15% to 4,362, while the pan-European Euro Stoxx 50 index trades higher by 0.25% at 3,047.

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