European stocks rose for the second time in three days. The Stoxx Europe 600 Index gained 2.3 percent to 358.18 at 8:09 a.m. in London, resuming gains after yesterday’s drop. All industry groups advanced, mirroring gains in commodities and Chinese equities. U.S. index futures also rose. The benchmark gauge for European shares closed down 15 percent from its April record on Wednesday, while U.S. equities managed to maintain gains throughout the day after a failed attempt on Tuesday. Some investors see the plunge as a buying opportunity after valuations fell to their lowest levels since January. The Stoxx 600 traded at 15.1 times estimated profit yesterday and reached 14.7 times on Monday. The Stoxx 600 has been particularly volatile this week, plunging the most since 2008 on Monday to then rally more than any time since 2011 on Tuesday. It fell again on Wednesday, ending down 1.8 percent after paring losses earlier in the day. A measure tracking expectations for stock swings reached an almost four-year high. While traders kept pouring money into European equities throughout the rout, the two biggest exchange-traded funds tracking the region’s stocks had their first day of outflows in month. Irish construction group CRH Plc climbed 3.7 percent after agreeing to buy Los Angeles-based C.R. Laurence Co., expanding in products used in window installations. Bouygues SA rose 5.5 percent after the French conglomerate raised its 2015 profit target for its phone operations. Fresenius SE added 4.7 percent after Germany’s largest medical supplies provider said it expects to increase its dividend by at least 20 percent this year. Pernod Ricard SA fell 1.8 percent after the world’s second-largest distiller reported full-year profit that missed estimates. Gemalto NV lost 4.9 percent after reporting that adjusted earnings fell short of projections.

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