Europe shares rise after better-than-expected PMIs

miércoles 1 de abril de 2015 04:19 GYT
 

* FTSEurofirst 300 up 0.4 pct, after 16 pct gain in Q1

* Barry Callebaut up 8 pct after posting strong results

By Blaise Robinson

PARIS, April 1 (Reuters) - European shares reversed early losses and rose on Wednesday, starting the new quarter on a positive note, helped by data showing manufacturing activity across the euro zone accelerated faster than previously thought last month.

Markit's final March manufacturing Purchasing Managers' Index (PMI) was at a 10-month high of 52.2, beating a preliminary reading of 51.9, adding to signs the bloc's economy is recovering.

Shares in Swiss chocolate maker Barry Callebaut surged 7.2 percent after it reported higher half-year sales and profits, as cost cuts helped counter the impact of the surging Swiss franc. It also confirmed its mid-term targets subject to currency swings.

Neopost bucked the trend, dropping 7 percent after posting disappointing results.

At 0806 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,590.61 points. The benchmark index surged 16 percent in the first quarter.

"The overall trend is still positive, there aren't any signals of an imminent sell-off. The idea is still to buy the dips," said Jean-Louis Cussac, head of Perceval Finance.   Continuación...