Europe shares steady on Greek rebound, Germany outperforms

lunes 18 de mayo de 2015 11:19 GYT

* FTSEurofirst 300 index up 0.2 pct

* Frankfurt shares outperform

* Greece in focus as cash crunch looms (Adds detail)

By Atul Prakash and Lionel Laurent

LONDON, May 18 (Reuters) - European shares steadied on Monday as investors grew more optmistic over a deal over Greek debt, although energy earnings and looming share sales in the banking sector weighed on investor appetite.

The pan-European FTSEurofirst 300 index was up 0.2 percent at 1,575.95 points by 1435 GMT, although most national benchmark indexes were in negative territory.

A recent rollercoaster sell-off in the bond market has taken some of the wind out of European stock-market sails, with top shares down nearly 5 percent from April peaks.

Shares in Austrian energy group OMV sank nearly 9 percent after it reported a halving of headline profit as low oil prices weighed on its upstream business. It also said it was unlikely to resume production in Libya or Yemen before winter.

Greek shares recovered after an early fall, with the top share index closing 1.6 percent higher. The EU said that Greece was being "more constructive" in talks, although it denied a report cited by traders that the EU Commission was preparing to compromise over a Greek debt deal.   Continuación...