European shares up 4 pct after China rate cut

martes 25 de agosto de 2015 07:56 GYT

* FTSEurofirst 300 up 4 pct

* Set for best 1-day gain since 2011 after sell-off

* Syngenta surges on sign of sweetened Monsanto offer

* Chinese shares slump again

* Goldman Sachs strategists cut equities position (Adds China cut, comments, stock moves, IFO)

By Sudip Kar-Gupta

LONDON, Aug 25 (Reuters) - European shares rose more than 4 percent on Tuesday, on track for their best one-day gain since late 2011, with a rate cut from China providing added juice to a recovery from a bruising 48-hour sell-off.

Battered mining and technology stocks were the big winners from China's move to support its stuttering economy and a plunging stock market that has sent shockwaves around the globe.

China's woes have led to fears of fresh deflationary pressures around the world and the European Central Bank is ready to take additional measures in in the event of a material change in the inflation outlook, the bank's vice-president Vitor Constancio said.   Continuación...