Roche rallies as European shares resume uptrend

viernes 15 de mayo de 2015 06:40 GYT

* Calmer bond market conditions buoy stocks

* European equity funds had 2nd week of outflows -BoaML

* Roche rallies after positive drug trial results

* Too early to fight against bull market -Citi

By Sudip Kar-Gupta

LONDON, May 15 (Reuters) - European shares advanced on Friday, as calmer conditions in the bond market buoyed the region's stock markets, with drugs group Roche rallying after positive trial results.

The pan-European FTSEurofirst 300 index rose 0.5 percent. Swiss group Roche was among the best performers, climbing 2.8 percent after reporting strong results from cancer drug trials.

Julius Baer also gained 3.3 percent, with traders citing speculation the Swiss bank and financial group could be a target for Intesa Sanpaolo as well as the possibility of a smaller than expected U.S. tax fine. Baer declined to comment.

Investors said signs that jitters in the bond market were starting to recede were also helping prop up European stocks, after an earlier spike in the German bund yield had contributed to second straight week of European equity outflows, according to a survey by Bank of America Merrill Lynch.   Continuación...