Commerzbank boosts European shares off of 2-1/2 year lows

viernes 12 de febrero de 2016 05:03 GYT

* FTSEurofirst 300 up 2 pct

* Commerzbank boosts battered banks

* Oil shares rally with crude

* Roll Royce surges after results

By Alistair Smout

LONDON, Feb 12 (Reuters) - European shares rebounded strongly from the previous session's steep losses on Friday, with positive results from Commerzbank and a rally in oil prices helping banks and commodity-related stocks to regain ground.

The pan-European FTSEurofirst 300 was up 2 percent at 1,218.97, having closed down 3.7 percent on Thursday, when a slump in banks and resource-related stocks pushed the index to a 2-1/2 year low.

Banks were in favour with Commerzbank up 14 percent after it returned to profit in the fourth quarter. Provisions for bad loans fell, allowing the bank to draw a line under a six-year restructuring by announcing it was closing its 'bad bank' comprising non-core assets.

In all, the STOXX 600 Banks index rose 3.8 percent.   Continuación...