European shares gain, China moves and U.S. data help

miércoles 2 de septiembre de 2015 10:23 GYT

* Pan-European FTSEurofirst 300 gains 0.8 percent

* China intervention helping calm market jitters -traders

* ECB meeting, Chinese holiday also seen soothing

By Atul Prakash and Lionel Laurent

LONDON, Sept 2 (Reuters) - European equities gained on Wednesday after a volatile start to the week, drawing support from brokerage measures in China to invigorate the country's battered markets and from expectations of policy-easing by major central banks.

Analysts said that U.S. private jobs data also promoted some investors to believe that the Federal reserve might not start its rate hike cycle from this month.

The pan-European FTSEurofirst 300 index was up 0.8 percent at 1,404.33 points by 1351 GMT after falling to a low of 1,383.54 earlier in the day. Benchmarks in London, Paris and Frankfurt were up 0.8 to 1.2 percent.

"We expect some more volatility going forward, but we see the recent sell-off as a correction and not the start of a bear market," Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, said.

"Possible actions by some central banks such as China doing more to stimulate its economy, the European Central Bank extending its bond-buying programme and the Fed delaying an interest rate hike are likely to support the market."   Continuación...