Commodities stocks help European equities to bounce back

martes 15 de diciembre de 2015 10:38 GYT
 

* FTSEurofirst 300 surges after 2-1/2 month lows

* Commodities stocks in demand

* M&A deals lift Faurecia and Sanofi

* Dialog slumps, dragging down ARM

By Sudip Kar-Gupta and Atul Prakash

LONDON, Dec 15 (Reuters) - European equities bounced back on Tuesday from sharp declines in the previous two sessions as energy stocks tracked higher crude oil prices and steel makers gained following a European Commission move on Chinese and Russian steel imports.

The market was also supported by a rally in some French firms, but German chipmaker Dialog Semiconductor slumped 6 percent, dragging down peers such as ARM, after Dialog slashed its revenue guidance.

The STOXX Europe 600 Oil and Gas index rose 3.4 percent, the top sectoral gainer in Europe, after oil rose following its lowest in nearly 11 years. BP, BG Group and Royal Dutch Shell rose 2 to 3.5 percent.

"A short-term reversal of the decline in oil prices that began on Monday and continued through Tuesday has relieved the pressure on stock markets," Jasper Lawler, analyst at CMC Markets, said.   Continuación...