European shares bounce back as Chinese data reassures

miércoles 16 de abril de 2014 07:00 GYT

* FTSEurofirst 300 up 0.7 pct, reverses previous day's slide

* Euro STOXX 50 up 1 pct, moves back above 50-day moving average

* "Stars are aligned" for Veolia-Suez tie-up -Exane

By Blaise Robinson

PARIS, April 16 (Reuters) - European shares rose on Wednesday, reversing the previous session's slide as economic growth data from China came a touch above forecasts.

Shares in Tesco, the world's No.3 retailer, gained 1.7 percent, bouncing after a 15 percent slide in two months as traders said a fall in profits reported by the group was not as steep as some had feared.

"Tesco this morning was not quite as bad as expected," said Berkeley Futures associate director Richard Griffiths.

French utilities Veolia Environnement and Suez Environnement both surged around 3 percent, boosted by merger speculation.

At 1031 GMT, the pan-European FTSEurofirst 300 index was up 0.7 percent at 1,316.05 points, in a rebound mostly seen by traders as technical.   Continuación...