(Jun 15 Bloomberg) European stocks rallied helping end the steepest selloff in global equities since January, as the British pound rebounded ahead of the Federal Reserve's policy review. The yuan traded near a five-year low after MSCI Inc. decided to keep Chinese equities out of its benchmark indexes.
The Stoxx Europe 600 Index climbed for the first time in six days and most shares rose on the MSCI Asia Pacific Index. Shanghai equities reversed initial losses, spurring speculation state-backed funds were supporting prices. The British pound strengthened, after sliding more than 1 percent in two of the last three trading sessions, and the yen retreated from its strongest level since 2014. Crude sank to about $48 a barrel after a report showed U.S. stockpiles increased, while copper rose. Japanese bond yields plumbed new lows.
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