European shares rise; Hermes slumps after LVMH deal

miércoles 3 de septiembre de 2014 04:32 GYT

* FTSEurofirst 300 up 0.8 pct in morning trade

* Stocks rally on news of ceasefire in Ukraine region

* Hermes stock drop represents 2.8 bln euro wipeout

* Hugo Boss drops after share placement

By Blaise Robinson

PARIS, Sept 3 (Reuters) - European shares rose early on Wednesday, boosted by news that Ukraine's President has reached an agreement with Russia over a ceasefire in eastern Ukraine's Donbass region.

Ukrainian President Petro Poroshenko's press office said in a statement he had reached a deal with Russia's Vladimir Putin on Wednesday on a "permanent ceasefire" for the Donbass region.

Pro-Russian separatists are battling Kiev's forces in the mainly Russian-speaking Donbass region, which is home to most of Ukraine's heavy industry and accounts for about 18 percent of the country's economic output.

At 0821 GMT, the FTSEurofirst 300 index of top European shares was up 0.8 percent at 1,387.53 points.   Continuación...