Commodities-related stocks help European shares to rebound
LONDON, March 11 (Reuters) - European shares bounced back in early trading on Friday after sharp declines in the previous session, with a recovery in metals and crude oil prices boosting commodities-related stocks.
The pan-European FTSEurofirst 300 index was up 2 percent by 0810 GMT after falling 1.8 percent in the previous session. However, the index stayed on track for a weaker weekly close after gaining in the previous three straight weeks.
The STOXX Europe 600 Basic Resources index rose 2.5 percent, the top sectoral gainer, after prices of major industrial metals rose sharply. Glencore, Anglo American and Rio Tinto rose 3 to 4 percent.
The European oil and gas index also advanced 1.8 percent, tracking higher crude oil prices. (Reporting by Atul Prakash; Editing by Gareth Jones)
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