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European shares rise as concerns about Eigergrand ease ahead of the conclusion of the US Federal Reserve meeting
European shares rose on Wednesday after debt-laden Chinese real estate giant Evergrande said it would make some interest payments, while investors awaited a signal from the US Federal Reserve at the conclusion of its meeting today on how and when it will scale back its massive stimulus programme.
Shares of Evergrande, listed on the Frankfurt Stock Exchange, jumped 41.0 percent after hitting multi-year lows in the previous session.
The pan-European Stoxx 600 index ended the trading session up 1%, extending its gains on Tuesday, when it rebounded from its worst session in two months.
The benchmark index was supported by gains in commodity-related stocks and banking stocks, which led the market's rise.
The travel and leisure sector was among the biggest gainers in today's session, with its index rising 2.5%, hitting its highest level in 14 weeks.
