Evergrande relief, earnings support European stocks

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The pan-European STOXX 600 added 0.2% by 0707 GMT, while Asian shares rose on news that the Chinese property developer had wired funds for a dollar bond interest payment, days before a deadline that would have sunk the group into formal default.

European personal & household goods and tech were among the top gainers, up about 0.7% each.

French cosmetics major L’Oreal surged 5.4% after posting strong revenue growth on demand for its luxury lines and growth in China, while tissue maker Essity gained 5.2% after setting a new target to ramp up sales.

France’s Renault (PA:RENA) slipped 1.2% after the carmaker said its production losses this year would be far larger than previously forecast owing to a global chip shortage.

Swedish mining firm Boliden dropped 5.4% as its third-quarter operating profit fell below market forecasts, pressured by higher costs and lower volumes.

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