European shares surge on oil rebound, solid company updates

martes 12 de enero de 2016 10:59 GYT

* FTSEurofirst 300 index up 1.9 pct

* Oil prices steady after hitting $30 area

* Retail shares, SAP rise on positive updates

* EDF drops after report over nuclear waste (Adds details, updates prices)

By Atul Prakash and Danilo Masoni

LONDON/MILAN, Jan 12 (Reuters) - European shares rose sharply on Tuesday following four straight sessions of declines, helped by steadying oil prices and solid updates from retailers and companies in other sectors.

The FTSEurofirst 300 index was up 1.9 percent at 1,359.97 by 1441 GMT, recovering from an intra-day low of 1,331.42, its lowest since late September.

"The rebound in the European markets appears to have been driven by a slight resurgence in oil prices, which in turn has boosted the share price of European oil & gas companies," said Daniel Sugarman, market strategist at ETX Capital.

"With crude oil prices having plummeted still further since the start of the year, investors appear keen to grab at any positive indications they can see, however small and however temporary," he added.   Continuación...