European shares bounce, focus on ECB meeting

jueves 3 de septiembre de 2015 06:30 GYT

* FTSEurofirst 300 gains 1.5 percent

* ECB meeting expected to strike dovish tone

* EasyJet surges on positive profit outlook (Adds quote, updates prices)

By Atul Prakash

LONDON, Sept 3 (Reuters) - European shares rose sharply on Thursday, tracking strong gains on Wall Street and ahead of a European Central Bank meeting that investors expect will deliver a boost to markets following recent turmoil.

At 1011 GMT, the FTSEurofirst 300 index of top European shares was up 1.5 percent at 1,416.09 points after volatile trading in the past weeks.

The index is still down more than 10 percent from its peak about a month ago due to turmoil in the Chinese stock market and the prospects of an imminent U.S. rate hike. However, the market has partially recovered on hopes that central banks will continue to be supportive.

"We are expecting some dovish newsflow from the ECB meeting. Focus will be on stressing that the ECB stands ready to act," Robert Parkes, equity strategist at HSBC, said. "We also don't believe that the Fed will raise rates in September."

"We believe that we are still in a 'buy on the dips' market, with double-digit earnings growth and supportive monetary policies supporting stock prices."   Continuación...