European shares advance as Roche rally lifts pharma stocks

viernes 27 de mayo de 2016 12:48 GYT

* FTSEurofirst and STOXX 600 end 0.2 pct higher

* Roche boosted by trial success with cancer drug

* Banks impacted by slump at Spain's Banco Popular (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) Adds details, prices)

By Sudip Kar-Gupta

LONDON, May 27 (Reuters) - European shares were steady on Friday, propped up by the Swiss stock market and pharmaceuticals companies after drugmaker Roche climbed on positive results for one of its products.

The pan-European STOXX 600 and FTSEurofirst 300 equity indexes both rose 0.2 percent.

Both these benchmark European equity indexes are at one-month highs although they remain down by around 5 percent so far in 2016, as concerns about a slowdown in China - the world's second biggest economy - have hit world markets.

Zurich's benchmark SMI market outperformed to rise 0.8 percent, helped by a 4 percent gain at Roche which was among the best-performing European blue-chip stocks.

Roche got a big boost when a clinical trial testing its new blood cancer drug Gazyva proved successful, lifting prospects for a new medicine that will be pivotal as the Swiss company fights the threat of competition.   Continuación...