European shares rebound as auto stocks rally

miércoles 9 de abril de 2014 10:09 GYT

* FTSEurofirst 300 up 0.4 percent

* Auto stocks are best-performing equity sector

* Bernstein upgrades lift Porsche and Volkswagen

By Sudip Kar-Gupta

LONDON, April 9 (Reuters) - European shares rebounded on Wednesday, led by gains in automakers, although some traders said that caution ahead of the European earnings season could curb the market's progress.

The pan-European FTSEurofirst 300 index rose 0.4 percent to 1,337.91 points in late trading, bouncing back after falling to its lowest level in more than a week in the previous session.

The euro zone's blue-chip Euro STOXX 50 index also edged up by 0.1 percent to 3,181.74 points.

The STOXX Europe 600 Automobile & Auto Parts Index was the best-performing equity sector in Europe, rising 1.3 percent as Volkswagen and Porsche both benefited from an upgrade by the brokerage Bernstein.

Bernstein raised its rating on Porsche and Volkswagen to "outperform" from "market perform".   Continuación...