European shares hit 4-week high, boosted by banks and oil

miércoles 25 de mayo de 2016 12:36 GYT
 

* FTSEurofirst 300 index gains 1.3 pct

* Greek deal lifts banks

* Energy shares mirror higher crude oil

* M&S slumps after short-term profit warning (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)

By Alistair Smout and Atul Prakash

LONDON, May 25 (Reuters) - European equities jumped to a four-week high on Wednesday with banks buoyed by progress on talks towards securing a debt relief deal for Greece, and energy shares rose on the back of a rally in oil.

The FTSEurofirst 300 and the STOXX Europe 600 index both touched their highest levels since late April, climbing 1.3 percent to add to the previous session's jump of more than 2 percent.

Banks rose after euro zone finance ministers agreed with Greece and the International Monetary Fund on a deal that will address Athens' requests for debt relief.

"This deal is welcome, and it allows the current arrangement to progress. In a way it puts a lid back on the can of worms, but the worms are still in there," Jasper Lawler, market analyst at CMC Markets, said.   Continuación...