Europe shares rise as data adds to pressure on ECB to act

miércoles 7 de enero de 2015 07:54 GYT

* FTSEurofirst 300 up 1 pct after eurozone consumer prices fall

* Expected ECB action positive for equities -HSBC strategist

* Greek shares fall as bond yields rise above 10 percent

By Francesco Canepa and Lionel Laurent

LONDON, Jan 7 (Reuters) - European shares rose on Wednesday, halting a three-day slide, after a bigger-than-expected drop in euro zone inflation was seen as likely to trigger a long-awaited bond-buying scheme by the European Central Bank to spur growth.

Euro zone consumer prices fell 0.2 percent in December compared with the same month the previous year, a first estimate by the European statistic office showed. The last time euro zone inflation was negative was in October 2009.

The pan-European FTSEurofirst 300 share index was up 1 percent at 1118 GMT, with nearly all major national benchmark indexes in positive territory.

"We don't think investors should fight the ECB," said Robert Parkes, a strategist at HSBC. "We think they will deliver quantitative easing (bond-buying) in the first quarter, and that will offer support to European stocks."

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