European stocks stage comeback amid miners’ rebound

The stocks on the European bourses snapped previous losses and rebounded at open, now building on the early gains amid a rebound in the mining stocks. While the homebuilders’ stocks extend the rally for the second straight session this Tuesday.

However, the gains appear capped on the back of lower oil prices, which drag the energy shares lower, while EUR’s relative strength, despite unimpressive PMI readings, also keeps a lid on the region’s indices.

 On the corporate news front, Straumann Holding AG added 2.3% after the company raised its full-year revenue guidance.  Schneider Electric SE rose 1.7% on reports that it is weighing a sale of DTN, while the UK homebuilder Persimmon Plc climbed 3.8% after reporting a “robust” H1 2016.

Meanwhile, Germany's DAX 30 index rises +0.76% to 10,576, while the UK's FTSE 100 index trades +0.49% higher at 6,860. Among the other indices, the French CAC 40 index gains +0.72% to 4,425, while the pan-European Euro Stoxx 50 index rallies +1.07% to 2,990.