Europe shares bounce as optimism on Greece wins out

lunes 27 de abril de 2015 11:20 GYT

* FTSEurofirst 300 up 0.8 pct after Athens team reshuffle

* Deutsche Bank down 5 percent

* Volkswagen, HSBC advance

By Atul Prakash and Lionel Laurent

LONDON, April 27 (Reuters) - European shares reversed early losses and posted gains during afternoon trading on Monday, with persistent concerns about Greece's debt situation offset by optimism that a reshuffled Greek negotiating team would help matters.

Greece looks set to run out of cash in the coming weeks, with fruitless debt relief talks between euro zone finance ministers on Friday serving to highlight the gulf between Athens and its creditors.

However, news on Monday that Prime Minister Alexis Tsipras had reshuffled his team handling the talks helped stem early selling, with the pan-European FTSEurofirst 300 index up 0.8 percent at 1505 GMT, and German and Greek equities strongly outperforming.

"Greece has recast its negotiating team for the talks with creditors, which contributes to reassure investors," said Pierre Martin, a trader at Saxo Bank.

Financials were also in focus after Deutsche Bank's biggest strategic overhaul under co-chief executives Anshu Jain and Juergen Fitschen got a thumbs-down from investors, who judged it too little, too late. The bank's shares fell 5 percent.   Continuación...