BUZZ-European stocks and China: resources hit, luxury a relative outperformer

** Familiar story for resources and oil names as Chinagrowth scare continues to rattle European markets

** Some proxies that first felt the heat from theChina-induced selloff -- luxury and German autos -- surpriseoutperformers on the day extending a trend seen over past fewweeks

** Stoxx 600 down 3.2 pct to 8 month low, 2 dayfall of 6.2 pct the worst since September 2011

** Basic Resources the standout faller, down 5.6 pctto touch lowest levels in 6 years

** WTI down 3.3 pct with oil and gas sector down 3.7 pct

** Luxury names outperform or inline on the day, includingRichemont and Swatch, two of the most commonlycited China short plays

** German carmakers, among the most exposed in the sector toChina, trade in line with the broader index. Peugeot and Renault the top fallers, down c. 5.5 pct

** Dialog Semi down 5.4 pct but other semi namesalso inline with index falls, in contrast to Friday's trading

(RM: alasdair.pal.thomsonreuters.com@reuters.net)