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Europe's markets claw back some ground after sell-off

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By Euronews
Europe's markets claw back some ground after sell-off

<p>After what is being dubbed “Black Monday,” there appeared to be a rosier Tuesday in store for the markets – in Europe at least. </p> <p>Shares made gains after 450 billion euros was wiped off the value of leading stocks.</p> <p>The pan-European <span class="caps">FTSE</span>urofirst 300 index, which slumped 5.4 percent on Monday, rose 1.8 percent, while the eurozone’s blue-chip Euro <span class="caps">STOXX</span> 50 index advanced 1.9 percent. </p> <p>Britain’s <span class="caps">FTSE</span> 100 and Germany’s <span class="caps">DAX</span> also bounced back from a five percent drop on Monday, to climb by 1.5 and 1.7 percent respectively. </p> <p>Global financial markets have been rattled by China’s devaluation of the yuan and a sell-off in the markets.</p> <p>Stocks slumped in China again on Tuesday – by seven percent – to their lowest level since December.</p> <p>Panic selling intensified after the Shanghai Composite Index crashed through the key support level of 3,000 points.</p>