European shares rally after U.S data but Eutelsat plunges
(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)
* FTSEurofirst 300 index closes up 0.6 pct
* European stock markets climb back after U.S data
* Eutelsat drops over 27 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 Friday's session as strong U.S. retail sales data buoyed markets, although satellite company Eutelsat plunged nearly 30 percent after slashing its outlook.
The pan-European FTSEurofirst 300 index had spent much of the day in negative territory, but swung back up to close 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. Continuación...