European shares end higher led by miners; Italian banks plunge

martes 12 de abril de 2016 12:28 GYT
 

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). Adds details closing prices)

* Pan-European index ends up 0.6 pct

* Miners lead gainers on firmer copper prices

* Italy underperforms as banks turn lower

By Sudip Kar-Gupta and Danilo Masoni

LONDON/MILAN, April 12 (Reuters) - European shares rose on Tuesday at the end of a choppy session, helped by gains among mining companies, but Italy underperformed as its banks snapped a two-day winning streak.

The pan-European FTSEurofirst 300 index and the euro zone's blue-chip Euro STOXX 50 index both rose around 0.6 percent.

The Italian banking index fell 3.7 percent, reversing initial gains as investors questioned the effectiveness of a state-orchestrated deal to create a fund to shore up weaker lenders.

"The problem with the Italian bank fund is that it is not big enough and it risks compromising the banks that are already in a much better shape," said Francois Savary, chief investment officer at investment and consultancy firm Prime Partners.   Continuación...