European Shares Rise, Supported by Evergrande

European shares rose on Wednesday, recovering from early-week losses after debt-laden China’s Evergrande said it would make some interest payments, while travel and leisure shares jumped to a 14-week high.

Frankfurt-listed Evergrande shares jumped 15.1 percent after hitting multi-year lows in the previous session.

The real estate developer said it would make interest payments on its local bonds, easing investor concerns about the fallout from its financial problems.

Supporting the travel and leisure index, Inten shares jumped 8.2 percent to an all-time high after the British gambling company unveiled a $22.4 billion takeover bid from Boston-based Draft Kings.

The pan-European Stoxx 600 index rose 0.8% by 0720 GMT, extending the recovery it made on Tuesday, while commodity-related shares were also among the biggest gainers.