European shares rise early, led by auto stocks

jueves 9 de abril de 2015 04:38 GYT

* FTSEurofirst 300 up 0.4 pct, resumes rally

* Greek shares rise as Athens to repay IMF loan installment

By Blaise Robinson

PARIS, April 9 (Reuters) - European shares rose early on Thursday, helped by positive German data as well as figures showing a strong recovery in Europe's auto sector.

Greek shares climbed, with Athens's benchmark Athex General Composite Share Index (ATG) up 0.9 percent after the country confirmed it will pay a 450 million euro ($485 million) loan installment to the International Monetary Fund on Thursday.

Robust German data also lifted the mood, with seasonally-adjusted exports rising 1.5 percent on the month after dipping by 2.1 percent in January.

At 0817 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,617.32 points.

"The news on Greece is helping push European markets higher, although it doesn't mean at all that a long-term solution has been reached," said Alexandre Baradez, chief market analyst at IG France.

"I'm quite cautious at this point. The market is losing steam, a lot of good news have already been priced in and there are quite a few potential negative catalysts on the horizon, including the Fed's first rate hike and the UK and Spanish elections. We could soon get a 5 to 10 percent correction."   Continuación...