Europe shares regain ground as Ukraine tensions ease

martes 4 de marzo de 2014 11:41 GYT

* FTSEurofirst 300 up 1.7 pct, Euro STOXX 50 up 2.3 pct

* Blue-chips with big Russia exposure bounce back

* Europe's corporate earnings recovery seen intact

By Blaise Robinson

PARIS, March 4 (Reuters) - European stocks rose on Tuesday, reversing a big portion of the previous session's sharp sell-off after Russian President Vladimir Putin said he would only use force in neighbouring Ukraine as a last resort.

Putin's first comments on the crisis sought to ease East-West tension and fears of war in the former Soviet republic and helped fuel a rebound in equities worldwide. Markets had earlier been cheered when Putin ordered an end to large-scale military exercises near Russia's border with Ukraine.

European blue-chip shares with the biggest exposure to Russia were among top gainers after being hammered on Monday.

Finnish tyre maker Nokian Renkaat rose 3.5 percent, Austrian lender Raiffeisen Bank International gained 5.5 percent and Danish brewer Carlsberg was 2 percent higher.

The three companies derive respectively 26 percent, 22 percent and 17 percent of their overall revenues from Russia, according to data from MSCI.   Continuación...