European shares bounce after worst session in 2 months; UMG soars in debut

European shares rose on Tuesday after their biggest fall in two months on easing worries about the spillover from the crisis at China's Evergrande, although gains were capped by fears major central banks could announce a tapering in stimulus.

The pan-European STOXX 600 was up 0.6% by 0704 GMT after sinking to a two-month low in the previous session.

Universal Music Group, the business behind singers such as Lady Gaga, Taylor Swift and The Weeknd, soared 38.1% in its first day of trading. The company was valued at around 33.5 billion euros ($39.30 billion) ahead of its debut.

Media, mining