Europe shares snap losing streak

miércoles 10 de junio de 2015 07:04 GYT

* FTSEurofirst 300 up 0.7 pct

* Traders cite oversold levels, lack of liquidity

* Sainsbury's gains after reporting sales figures

* Tech shares fall as Cap Gemini and AMS slip (Adds comments)

By Atul Prakash and Lionel Laurent

LONDON, June 10 (Reuters) - European shares snapped a six-day losing streak on Wednesday, with German equities rebounding from their lowest level since February, as traders said the recent sell-off had gone too far.

Stocks have taken a hit from recent wild swings in fixed-income markets. German bund yields rose above 1 percent on Wednesday for the first time since September, just months after the European Central Bank began a bond-buying plan to revive growth in the euro zone economy.

The FTSEurofirst 300 index was up 0.7 percent at 1029 GMT, with all industry sectors but one in positive territory, as traders pointed to a still-favourable economic and earnings backdrop for equities despite the recent sell-off.

"Equity investors have overreacted in the past sessions and the market has become 'oversold'," said Christian Stocker, strategist at Unicredit in Munich. "In the longer term, equities will stay attractive as companies' earnings outlook is improving and the European economy is gradually recovering."   Continuación...