European shares stage cautious rally after Crimea vote

lunes 17 de marzo de 2014 05:32 GYT

* FTSEurofirst 300 up 0.6 pct, Euro STOXX 50 up 0.8 pct

* FTSEurofirst rebounds from last week's falls

* Relief at peaceful passage of Crimea referendum

* Siemens leads Russia-exposed risers as sanctions awaited

By Alistair Smout

LONDON, March 17 (Reuters) - European stocks nosed up on Monday with a major index recovering from its lowest level in more than a month after Sunday's referendum over whether Crimea will join Russia passed without violence and as anticipated sanctions have yet to materialise.

The FTSEurofirst 300 is 4.3 percent off its year-to-date high, and traders remain cautious given the lack of a long-term solution to the standoff between Russia and the West, as well as the impact of potential sanctions.

The index had its biggest loss since January last week ahead of the referendum, which Crimea's Moscow-backed leaders said showed an overwhelming majority in favour of quitting Ukraine and annexation by Russia.

The index had closed down 0.7 percent at 1,284.32 points on Friday - marking its lowest level since early February - as investors sought to reduce exposure ahead of the uncertainty of the weekend's referendum.   Continuación...