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

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

** Some proxies that first felt the heat from the China-induced selloff -- luxury and German autos -- surprise outperformers on the day extending a trend seen over past few weeks

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

** Basic Resources the standout faller, down 5.6 pct to 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, including Richemont and Swatch, two of the most commonly cited China short plays

** German carmakers, among the most exposed in the sector to China, trade in line with the broader index. Peugeot (Hanover: PEU.HA - news) and Renault (Swiss: RNO.SW - news) the top fallers, down c. 5.5 pct

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

(RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)