European shares return near multi-year highs

martes 19 de mayo de 2015 10:56 GYT
 

* European equities boosted by ECB's Coeure comments

* ECB to front-load asset purchases in May, June: Coeure

* Greek shares rise on prospect of deal with creditors (Updates prices, adds Reuters poll)

By Lionel Laurent and Sudip Kar-Gupta

LONDON, May 19 (Reuters) - European shares rose back to near multi-year highs on Tuesday after a European Central Bank policymaker said it would front-load an asset purchase scheme, aimed at boosting the euro economy.

The comments led the euro to trade below $1.12 for the first time in a week, juicing investor appetite for stocks - especially in the exporter-heavy German DAX index. Euro weakness in the first three months of the year added 17 billion euros ($19 billion)to German blue-chip revenues, according to EY.

Athens' stock market, which has consistently underperformed this year due to worries over Greece's debt, also rose after the Greek labour minister said Athens would soon conclude a deal that could unlock more loans.

The pan-European FTSEurofirst 300 index was up 1.5 percent at 1424 GMT, shrugging off a survey that showed German investor morale fell by more than expected in May.

The FTSEurofirst has now recovered its losses since the start of the month, with some investors saying the past few weeks' volatility linked to the roller coaster sell-off in the bond market had not altered their positive stance on equities.   Continuación...