European shares regain poise after sharp sell-off

viernes 3 de octubre de 2014 12:49 GYT

* FTSEurofirst 300 up 0.9 pct, bounces back

* Airlines boosted by sharp drop in crude prices

* Industrials, exporters benefit from further drop in euro

* German market closed for holiday

By Blaise Robinson

PARIS, Oct 3 (Reuters) - European stocks regained some poise on Friday after the previous day's sell-off, led by airlines buoyed by a sharp drop in oil prices while exporters such as Airbus got a lift from the euro's renewed slide after strong U.S. jobs data.

Shares in British Airways owner International Airlines Group rose 4.9 percent and Air France-KLM added 3.6 percent, while easyJet, which upgraded its earnings forecast on Friday, surged 6.4 percent.

Brent crude oil futures fell below $92 a barrel on Friday as abundant supplies and a strong dollar continue to weigh on the commodity market.

Jet fuel, derived from crude, can account for anywhere between 20 and 50 percent of an airline's operating costs, which means the recent sharp drop in prices could become a boon for the sector's earnings.   Continuación...