Europe shares bounce as optimism on Greece wins out

lunes 27 de abril de 2015 13:05 GYT
 

* FTSEurofirst 300 up 1 pct after Athens team reshuffle

* Deutsche Bank down 4.6 percent

* Volkswagen, HSBC advance (Updates with closing prices)

By Atul Prakash and Lionel Laurent

LONDON, April 27 (Reuters) - European shares reversed early losses and closed up on Monday, with persistent concerns about Greece's debt situation offset by optimism that a reshuffled Greek negotiating team would brighten the outlook.

Greece is at risk of running out of cash in the coming weeks. Fruitless debt relief talks between euro zone finance ministers on Friday served 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. The pan-European FTSEurofirst 300 index ended the day up 1.0 percent, and German and Greek equities strongly outperformed.

"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 elicited a thumbs-down from investors, who judged it too little, too late. Deutsche shares fell 4.6 percent.   Continuación...