European shares rebound after U.S data but Eutelsat plunges

viernes 13 de mayo de 2016 09:50 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)

* European stock markets climb back after U.S data

* Eutelsat drops around 30 percent after outlook cut

* Ubisoft rises after posting higher sales

By Sudip Kar-Gupta

LONDON, May 13 (Reuters) - European shares rebounded from losses earlier in the session on Friday, as strong U.S. retail sales data buoyed markets, although satellite company Eutelsat plunged 30 percent after slashing its outlook.

The pan-European FTSEurofirst 300 index had spent much of the day in negative territory, then swung back up to stand 0.6 percent higher following the U.S figures.

The data showed U.S. retail sales in April recorded their biggest increase in a year, suggesting that the world's biggest economy was regaining momentum after growth almost stalled in the first quarter.

"The strong U.S. data has lifted European markets, and we are fairly bullish in the medium term," said MB Capital trader Rick Jones.   Continuación...