Commodities stocks and Italian banks boost European equities

viernes 8 de abril de 2016 04:40 GYT

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* FTSEurofirst 300 index up 0.7 percent

* Resource-related stocks among top gainers

* Italian banks surge on likely state support

By Atul Prakash

LONDON, April 8 (Reuters) - European equities bounced back on Friday as Italian banks rallied and firmer prices of metals and oil boosted resource-related stocks, although a pan-European index was on track for its fourth straight week of losses.

The STOXX Europe Basic Resources and the Oil and Gas indexes rose 1.9 percent and 2.1 percent respectively, the top two sectoral gainers, after oil advanced on expectations of increased fuel demand following firm economic indicators from the United States and Germany. Metals prices were also firmer.

Shares in Glencore, BHP Billiton and BP rose 2.0 to 2.4 percent.

Italian banks surged, with UniCredit gaining 6.7 percent, the top gainer in the FTSEurofirst 300 index.   Continuación...