Arcelor helps European shares rise for second day

viernes 7 de febrero de 2014 11:01 GYT

* FTSEurofirst 300 and ESTOXX 50 up 0.8 pct

* U.S. jobs data worse than forecast

* Traders still positive on longer-term US jobs' outlook

* ArcelorMittal rises after forecasting higher profits

By Sudip Kar-Gupta

LONDON, Feb 7 (Reuters) - European shares rose for a second straight day on Friday, helped by gains at steelmaker Arcelor , as long-term investors bet equities would continue to benefit from the region's gradual economic rebound.

Equity markets briefly pared gains after worse-than-expected U.S. employment data, but then swiftly recovered as traders and investors said the longer-term outlook of a gradual global economic pick-up remained intact.

The pan-European FTSEurofirst 300 index was up by 0.8 percent at 1,300.12 points, while the euro zone's blue-chip Euro STOXX 50 index also advanced by 0.8 percent to 3,033.09 points.

Heavyweight steelmaker ArcelorMittal - regarded as a gauge for the health of global manufacturing - was among the top FTSEurofirst 300 gainers, rising 3.6 percent after forecasting higher profits for 2014.   Continuación...