European shares rebound as UPM, BP results beat forecasts
(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. See the bottom of the report for more details) Adds details, updates prices)
* Pan-European FTSEurofirst 300 gains 0.3 pct
* UPM, BP up on better-than-expected results
* Banks outperform as StanChart rallies on results
* Cobham slumps after rights issue announcement
By Atul Prakash
LONDON, April 26 (Reuters) - Encouraging company results and firmer oil prices helped European shares rebound on Tuesday, with pulp and paper maker UPM and oil major BP moving higher after better-than-expected reports.
UPM surged 10.6 percent, the biggest gain in the pan-European FTSEurofirst 300, after reporting a 34 percent rise in adjusted operating profit in the first quarter .
"European equity markets are trading moderately higher on positive corporate earnings surprises from several companies," said Markus Huber, a trader at City of London Markets. Continuación...