European shares bounce back on Greek reforms, but miners slump

lunes 9 de mayo de 2016 05:16 GYT
 

* FTSEurofirst 300 up 1 pct, Athens at highest since Jan

* Volkswagen rises after activist investor move

* Miners top sectoral loser on weak China data

* Milan underperforms led lower by Banco Popolare (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, updates shares)

By Danilo Masoni

MILAN, May 9 (Reuters) - European shares rose on Monday, bouncing back after two weeks of losses and supported by gains in crude oil prices and by the approval in Greece of reforms to help unlock bailout money.

Gains however were capped by heavy losses among miners following disappointing data from China, a major metal consumer.

"The oil prices rally and the moderately positive developments in Greece are helping but uncertainty over the macro picture remains," ActivTrades chief analyst Carlo Alberto de Casa said.

China's exports and imports fell more than expected in April, underlining weak demand and cooling hopes of a recovery in the world's second-largest economy.   Continuación...