European shares rebound as Ericsson and LVMH rise

lunes 18 de enero de 2016 04:15 GYT

LONDON Jan 18 (Reuters) - European shares rebounded on Monday from their lowest level in more than a year, helped partly by gains at mobile telecoms gear marker Ericsson and luxury goods group LVMH.

The pan-European FTSEurofirst 300 index, which had fallen 2.8 percent on Friday to its lowest level since mid-December 2014, rose 0.6 percent.

The euro zone's blue-chip Euro STOXX 50 index climbed 0.5 percent and Britain's FTSE 100 advanced 0.3 percent.

Ericsson rose 2.9 percent after Nordea Markets raised its rating on the stock to "buy", while a similar upgrade from Goldman Sachs on LVMH boosted LVMH shares by 1.4 percent.

However, French supermarket retailer Casino fell 3.2 percent after ratings agency Standard & Poor's threatened to downgrade its debt to junk status. (Reporting by Sudip Kar-Gupta; Editing by Andrew Heavens)