Earnings, U.S. data help European shares regain after stress-test scare

miércoles 22 de octubre de 2014 12:29 GYT
 

* FTSEurofirst 300 up 0.7 pct, U.S. data provides lift

* GSK, Hexagon rally after positive results

* Spanish news agency says 11 EU banks to fail stress test (Adds closing prices with no other changes to text)

By Alistair Smout

EDINBURGH, Oct 22 (Reuters) - European shares nudged higher on Wednesday, supported by a raft of positive corporate earnings and mild inflation data from the United States which may encourage the U.S. Federal Reserve to keep interest rates lower for longer.

However, the session was volatile, with euro zone banks under pressure early on after Spain's EFE news agency reported that several European lenders might fail EU bank stress tests.

The pan-European FTSEurofirst 300 closed up 0.7 percent at 1,308.73, regaining the ground lost after the stress-test report came out.

U.S. consumer prices rose marginally in September, painting a weak inflation picture that should give the Federal Reserve ample room to keep interest rates low for a while longer.

Also on the upside, GlaxSmithKline rose 2.6 percent after beating earnings expectations and saying it expected a vaccine against Ebola to be ready later this year.   Continuación...