European shares rebound ahead of U.S. jobs data

viernes 5 de diciembre de 2014 08:12 GYT

* FTSEurofirst 300 up 1.1 pct, bounces from previous day's drop

* Energy shares tumble again as Brent falls to $69 a barrel

* German industry orders lift sentiment

By Blaise Robinson and Francesco Canepa

PARIS/LONDON, Dec 5 (Reuters) - European shares rallied on Friday, recouping most of the previous session's losses, helped by strong German factory orders and expectations for upbeat U.S. jobs data due later in the day.

Shares in oil and gas firms bucked the trend, losing ground again as Brent crude fell close to $69 a barrel. Seadrill was down 4.6 percent, Saipem down 2.9 percent and Statoil down 0.9 percent.

This year's sharp drop in crude prices has forced a number of oil services firms including Seadrill to scrap their dividends as oil majors accelerate cost-cutting efforts.

The STOXX oil and gas sector index has tumbled 23 percent since June, representing a wipeout in market capitalisation of roughly $240 billion, more than the entire market value of Shell, Europe's biggest oil major, Thomson Reuters data shows.

At 1145 GMT, the pan-European FTSEurofirst 300 was up 1.1 percent at 1,396.47 points. The index fell 1.4 percent in the previous session after the European Central Bank stuck to its line that any decision on further stimulus would be made next year, sparking a bout of profit taking.   Continuación...