Banks and miners help European shares to bounce back

viernes 11 de marzo de 2016 07:34 GYT
 

* FTSEurofirst 300 index gains 2.5 percent

* Euro zone banking stocks rise sharply

* Mining, energy stocks track commods prices

By Atul Prakash

LONDON, March 11 (Reuters) - European shares bounced back on Friday, with a recovery in metal and oil prices boosting commodities stocks and the ECB's bank funding plan supporting lenders in the euro zone periphery.

The pan-European FTSEurofirst 300 index was up 2.5 percent to 1,344.48 points by 1052 GMT, after falling 1.8 percent in the previous session, with European mining and energy share index advancing more than 2 percent.

The euro zone's Euro STOXX Banks index was up nearly 6 percent after choppy moves on Thursday when the European Central Bank cut rates and said it would start buying corporate debt and even pay banks for lending to companies in the ailing euro area in a bid to kickstart growth.

Lenders like Banco Popular and Bankia of Spain and Italy's UniCredit and Intesa Sanpaolo jumped 6.8 to 9.8 percent.

The broader European stock market fell in the previous session after ECB President Mario Draghi said more rate cuts were unlikely, but bank shares outperformed on plans for a new round of cheap funding.   Continuación...