Europe shares extend rebound; exporters buoyed by lower euro

lunes 6 de octubre de 2014 04:19 GYT
 

* FTSEurofirst 300 up 0.6 pct, DAX catches up after holiday

* Recent drop in euro boost shares in exporters

By Blaise Robinson

PARIS, Oct 6 (Reuters) - European shares rose early on Monday, building on the previous session's rebound in the wake of stronger-than-expected U.S. jobs figures which boosted stock markets worldwide.

German equities led the gains, with the DAX index up 1.3 percent. The Frankfurt bourse, closed on Friday for a public holiday, played catch up.

At 0749 GMT, the FTSEurofirst 300 index of top European shares was up 0.6 percent at 1,355.39 points in a broad-based rally.

Shares in exporters such as Airbus and Daimler WERE among the top gainers, getting a lift from the euro's slide against the dollar following the U.S. jobs data.

"The steady drop in the euro is boosting sentiment among equity investors in Europe. It won't have an immediate impact on the next earnings season, but people are starting to price it in as a tailwind for the coming quarters," said Alexandre Baradez, chief market analyst at IG France.

"In the short term, however, the market remains driven by what the central banks say about their monetary policies, with still a lot of question marks on the timing for the Fed's first rate hike and the prospect of a quantitative easing programme from the ECB. So we're expecting some turbulence on the market in the next little while," he added.   Continuación...