German shares lead Europe higher after factory data

lunes 2 de mayo de 2016 04:56 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. See the bottom of the report for more details)

* Euro STOXX 50 index up 0.4 pct

* German share outperform after factory data

* Italian shares fall, banks under pressure

By Atul Prakash

LONDON, May 2 (Reuters) - European equities bounced back on Monday after sharp declines in the previous session, with German shares outperforming the broader market after a positive manufacturing survey report.

However, trading volumes were expected to be thin as the UK market was closed for a public holiday.

The euro zone's blue-chip Euro STOXX 50 index was up 0.4 percent and Frances CAC gained 0.4 percent. Germany's DAX advanced 1 percent after a survey showing German factory activity rose to a three-month high in April, buoyed by rising demand at home and abroad.

"German equities are reacting positively after the factory activity data. It's a pleasant surprise, but I still think that we are not out of the woods yet," Koen De Leus, senior economist at KBC in Brussels, said.   Continuación...