European shares gain, China moves help

miércoles 2 de septiembre de 2015 12:35 GYT
 

* Pan-European FTSEurofirst 300 ends 0.2 pct higher

* 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 hopes for policy easing by major central banks.

The pan-European FTSEurofirst 300 index ended 0.2 percent higher at 1,395.70 points after falling to a low of 1,383.54 earlier in the day. Benchmarks in London, Paris and Frankfurt were up 0.3 to 0.4 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."

Analysts said U.S. private jobs data prompted some investors to believe the Federal reserve might not start its rate hike cycle from this month. The ADP National Employment Report showed U.S. private employers added a smaller than expected 190,000 jobs in August.   Continuación...