Pharma and real estate firms help European shares to edge higher

lunes 1 de junio de 2015 10:44 GYT
 

* Pan-European FTSEurofirst 300 up 0.3 pct

* Roche advances on encouraging update

* Real estate shares gain on positive note

By Atul Prakash

LONDON, June 1 (Reuters) - European equities rose in late trading on Monday, with Roche leading drug stocks higher following an encouraging company update and real estate shares getting some support from a positive sector note from JP Morgan.

Shares in Roche rose 2 percent, helping the European healthcare index to rise 1.1 percent, after the drugmaker's cancer immunotherapy drug Atezolizumab was found to reduce tumors in two thirds of lung cancer patients when combined with chemotherapy.

The STOXX Europe 600 real estate index rose 1 percent, with traders attributing the rise to a positive note by JP Morgan, raising it target price for stocks of companies including British Land, Great Portland and Land Securities, up 0.8 to 1.4 percent.

"We ... maintain our preference for higher growth potential markets in the UK, Ireland and Spain," JP Morgan analysts said in the note, adding that they saw a 9.7 percent upside potential for the sector.

The FTSEurofirst 300 index of top European shares was up 0.3 percent at 1,589.86 points by 1423 GMT after shedding 2 percent the previous week. The index is still up about 16 percent so far this year.   Continuación...