Europe Markets: European stocks rebound with Universal Music Group soaring in its debut

Stocks rebounded in Europe on Tuesday, following the biggest one-day drop since mid-July, with Universal Music Group soaring in its debut and pharmaceuticals, energy and apparel and footwear among big contributing sectors.

The Stoxx Europe 600 index XX:SXXP rose 1% to 458.99, bucking two days of losses and a 1.7% tumble on Monday, when global markets reeled from worries about contagion from troubled property group China Evergrande HK:3333. The German DAX DX:DAX and French CAC 40 FR:PX1 rose 1.4% each and the FTSE 100 index…