(Bloomberg) -- European equities rebounded after their biggest four-day drop since the height of the February slump.
Miners and energy producers led the advance in the Stoxx Europe 600 Index, which climbed 0.3 percent at 8:18 a.m. in London. The gauge slid 4.9 percent in the past four days, the most since its reached its lowest level since 2013 on Feb. 11. Trading volume was lower than the 30-day average amid holidays in the region, with markets including Switzerland and Nordic countries closed.
Investors have been growing increasingly skeptical after European shares staged a 16 percent recovery through April 20 despite falling corporate profits, disappointing economic data and concern about the efficacy of central-bank stimulus. Commodity producers, which had led the rebound, were the most hurt.
Among stocks moving on corporate news, Repsol SA jumped 5 percent after quarterly profit topped analysts’ projections as the performance at the refining and chemicals division compensated for low oil prices. BT Group Plc rose 3.2 percent as the U.K.’s former telecommunications monopoly reported profit that beat estimates. Wm Morrison Supermarkets Plc increased 2.1 percent after posting its second consecutive quarter of sales growth. RSA Insurance Group Plc advanced 2.3 percent after reporting an increase in profits thanks to good underwriting results. Mediaset Espana Comunicacion SA climbed 4.5 percent as earnings beat projections.
Rolls-Royce Holdings Plc declined 3.2 percent after the U.K. aero-engine maker said it expects to be “close to breakeven” in the first half of the year and that full-year earnings will be weighted toward the second half. Inmarsat Plc lost 4.8 percent after lowering its 2016 revenue forecast. Centrica Plc tumbled 7 percent after saying it will sell shares.
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