European shares rebound from lows, Pearson surges
LONDON Jan 21 (Reuters) - European shares advanced in early trading on Thursday after slumping in the previous session following a rout in commodities prices, with strong gains at Pearson and Logitech supporting the market.
However, the rebound remained fragile as initial gains on Asian stocks fizzled out, with a further drop in crude oil prices seen maintaining negative pressure on world markets.
The pan-European FTSEurofirst 300 index was 1 percent higher in early trading, after falling 3.3 percent to its lowest level since October 2014 in the previous session.
Shares in Pearson rose 8 percent after the British education publisher announced plans to cut 10 percent of its workforce, cap its dividend and restructure after cutting earnings forecasts for 2015 and 2016.
Swiss-American technology accessories maker Logitech also jumped 8.9 percent after its quarterly results beat analyst forecasts.
Investors will also keep an eye on a policy meeting of the European Central Bank, which is expected to keep interest rates on hold but highlight increasing growth and inflation risks, raising the prospect of further policy easing later this year. (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)
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