European equities recover from four-month low, Greek shares slip

martes 16 de junio de 2015 12:38 GYT
 

* Pan-European FTSEurofirst 300 ends up 0.6 pct

* Greek debt crisis hits ATG share index

* Volatility index hits highest since January

By Atul Prakash

LONDON, June 16 (Reuters) - European shares recovered in late trading and ended higher on Tuesday after hitting a four-month low, with analysts saying the Greece-led sell-off and a weaker euro had created some buying opportunities for investors.

The pan-European FTSEurofirst 300 index closed 0.6 percent higher at 1,528.83 points, having earlier hit its lowest level since mid-February. The European volatility index rose 3.2 percent to its highest since January.

A stabilisation in European bond markets also helped stocks, analysts said, adding the weaker euro, which was down 0.5 percent against the U.S. dollar, was positive for European exporting companies.

"A weaker euro is a big plus for company profits and that is providing some support to European companies," said KBC senior economist Koen De Leus, adding that Tuesday's recovery is not sustainable.

"I see another correction of at least 5 percent in the coming weeks as it seems that Greece and its creditors are still far away from an agreement. The Greek situation will continue to keep the market volatile."   Continuación...