European shares bounce back, helped by solid earnings reports

miércoles 5 de noviembre de 2014 06:59 GYT
 

* FTSEurofirst 300 up 1 pct, reverses Tuesday's loss

* Marks & Spencer jumps 8.2 pct after results

* Two-thirds of companies meet-beat forecasts -data

* Lack of new ECB measures could hit market rally -traders

By Blaise Robinson and Sudip Kar-Gupta

PARIS/LONDON, Nov 5 (Reuters) - European stocks rebounded on Wednesday, helped by positive company results which saw shares in British retailer Marks & Spencer surge more than 8 percent.

However, some traders said the stock market rally could be short-lived if European Central Bank (ECB) chief Mario Draghi fails on Thursday to unveil new economic stimulus measures to spur growth in the euro zone's struggling economy.

"If we get nothing from the ECB, which is a close call, we may see some downside," Philippe Gijsels, chief strategy officer at Fortis Bank, told Reuters Insider Television. (reut.rs/1vHB5Og)

Marks & Spencer jumped 8.2 percent after posting a rise in underlying first-half profit for the first time in four years, beating expectations, while German chemicals distributor Brenntag gained 4.5 percent, boosted by forecast-beating earnings.   Continuación...