European stock markets rose for the first time in three sessions in light holiday trade on Tuesday, trimming sharp losses for the month.
The Stoxx Europe 600 index SXXP, +0.77% rallied 1% to 368.13, after losing 0.5% on Monday.
A traditional Santa Rally has largely failed to materialize this year, as investors grapple with the U.S. Federal Reserve’s first rate hike in almost a decade and a slump in commodity prices. The pan-European benchmark is on track for a 4.5% slide for December, which would mark the worst December since 2002.
Other indexes: The U.K.’s FTSE 100 index UKX, +0.28% added 0.5% to 6,286.71, underperforming most other European stock markets as commodity companies weighed.
Germany’s DAX 30 index DAX, +1.45% rose 1.6% to 10,821.29, while France’s CAC 40 index PX1, +1.32% climbed 1.5% to 4,684.99.
Movers: Home builders advanced in London as severe flooding in northern England was seen as potentially benefitting the sector. Shares of Berkeley Group Holdings PLC BKG, +2.24% rose 2.8% and Persimmon PLC PSN, +2.18% advanced 2%.
Deutsche Bank AG DBK, +1.47% put on 2.2%. The German bank said on Monday it will sell its entire stake in Chinese bank Hua Xia Bank Co. for between 23 billion yuan ($3.55 billion) and 25.7 billion yuan.
