BNP Paribas leads European shares higher after sanctions settlement

martes 1 de julio de 2014 08:05 GYT
 

* FTSEurofirst 300 up 0.5 pct

* BNP Paribas rises on relief at U.S. sanctions settlement

* Chinese data lift mining sector

By Tricia Wright

LONDON, July 1 (Reuters) - European shares advanced on Tuesday, led by BNP Paribas on relief that it settled a U.S. sanctions case, while mining stocks rallied on robust data out of top metals consumer China.

The pan-European FTSEurofirst 300 index was up 0.5 percent at 1,377.07 points by 1037 GMT.

BNP Paribas was a top gainer, rising 3.8 percent in robust trading volume of almost twice its 90-day daily average, having lost some 20 percent - or $21 billion of its market value - since Feb. 13 when it announced the provision for the fine.

The French bank pleaded guilty to two criminal charges and agreed to pay almost $9 billion to resolve allegations that in many financial dealings it violated U.S. sanctions against Sudan, Cuba and Iran.

Analysts and investors said the stock could now recover ground lost over the last few months.   Continuación...