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European equities on course to end volatile September on bright note

European stocks rose on Thursday, extending gains after a bruising sell-off earlier this week as lingering worries about slowing global economic growth and higher inflation put the main markets on course for a monthly drop.

The pan-regional STOXX 600 index .STOXX rose 0.6% by 0718 GMT, led by defensive sectors such as real estate .SX86P, healthcare .SXDP and food & beverages .SX3P, while miners .SXPP rebounded from sharp declines fuelled by worries about China’s economy.

The benchmark is on track to end September with losses of 2.7% after a seven-month winning streak, as a surge in government bond yields drove investors out of high-growth sectors.

Among stocks, Sweden’s H&M HMb.ST rose 1.9% after it reported a bigger-than-expected jump in quarterly pretax profit as shoppers returned to stores, while spirits maker Diageo Plc DGE.L gained 2.0% after it forecast a boost to operating margins as people opt for premium brands.

British online fashion retailer Boohoo BOOH.L tumbled 10.3% as it warned that freight inflation and higher wages for its distribution centre workers would impact full-year profit margins.
Source: Reuters (Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu)

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