Greek share rally boosts European equity market

jueves 11 de junio de 2015 04:24 GYT
 

* FTSEurofirst 300 index rises 0.5 percent

* Greek shares up 5.6 pct, Greek banks surge 12 pct

* Automobile shares among top gainers

* Royal Mail slips after government stake sale

By Atul Prakash

LONDON, June 11 (Reuters) - European shares climbed on Thursday after strong gains in the previous session, with the automobile sector rising on positive company updates and Greek shares surging on expectations that a debt deal will be sealed soon.

The STOXX Europe 600 Automobile and Auto Parts index rose 1 percent, helped by a 1.3 percent rise in Daimler after Chief Executive Dieter Zetsche said booming sales of high-margin sports utility vehicles would help it achieve a better result in the second quarter. BMW gained 1 percent after unveiling a new flagship sedan.

Greek shares rose 5.6 percent and its banking index surged 12 percent, with German Chancellor Angela Merkel saying Greece had told its European partners that it was committed to intense discussions with its creditors to solve all open issues and avoid a looming default at the end of the month.

"The overall perception is that things might finally starting to move, with a deal now more likely in the days ahead than just a few days ago," said Markus Huber, senior analyst at Peregrine & Black.   Continuación...