(Reuters) – European shares bounced back on Tuesday after recording their worst losses since June 2016 in the previous session, with investors assessing the economic hit of a coronavirus outbreak that has spread far beyond China.
Markets across the globe attempted to stabilize, with the pan-European STOXX 600 index rising 0.6%.
After a 5.4% tumble on Monday, Milan-listed shares .FTMIB rose 0.6%. Italy is struggling with the worst flare-up of coronavirus cases in Europe, with 220 cases reported and seven dead.
Prudential Plc (PRU.L) rose 2.9% after hedge fund Third Point LLC amassed a more than $2 billion stake and called on the British insurer to split into two companies.
Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila
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