European shares soar as China adds steam to ECB-led rally
(Adds closing prices)
* FTSEurofirst 300 rises to 2-month highs, DAX up 2.8 pct
* China cuts rates one day after ECB signals stimulus boost
* Export-driven sectors like auto buoyed by weak euro
* Maersk, Ericsson hit by on disappointing results
By Danilo Masoni and Sudip Kar-Gupta
MILAN/LONDON, Oct 23 (Reuters) - European shares rose to two-month highs on Friday, with export-driven stocks such as autos leading the way as China announced a surprise rate cut just a day after the ECB signalled the possibility of stronger stimulus measures.
The pan-European FTSEurofirst 300 index rose 1.95 percent, building on a 2.1 percent gain in the previous session, while the euro zone's blue-chip Euro STOXX 50 index advanced 2.17 percent.
China's central bank cut interest rates for the sixth time since November on Friday, and it again lowered the amount of cash that banks must hold as reserves in another attempt to jumpstart a slowing economy. Continuación...