European shares post 2015's biggest weekly fall despite Novo Nordisk surge

viernes 27 de marzo de 2015 13:42 GYT

* FTSEurofirst 300 up 0.2 pct after losing 1.9 pct in two days

* Novo Nordisk up 10.4 pct after deciding to submit drug data

* Euro zone shares recover as euro falls back (Updates with closing prices)

By Alistair Smout

LONDON, March 27 (Reuters) - A top index of pan-European shares was set for its biggest weekly drop of the year on Friday, although it snapped a sharp two-day losing streak following a surge in Danish pharmaceuticals firm Novo Nordisk.

By the close, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,576.86 points, but down 2.1 percent for the week -- the biggest weekly drop for the index since December.

European stocks had tumbled in the previous two sessions, with the FTSEurofirst 300 losing 1.9 percent as a rebounding euro currency prompted investors to cash in recent sharp gains.

A similar pattern was seen on Friday, with the FTSEurofirst 300 giving up some early gains as the euro recovered from an early drop to trade 0.3 percent higher.

European shares have rallied in the past six months as investors bet a sharp drop in the currency would boost the region's economy and lift corporate results.   Continuación...