European shares rise as bank and telecom stocks jump

lunes 15 de febrero de 2016 13:45 GYT

* FTSEurofirst 300 rises sharply for second day running

* French telecoms rally as M&A talk heats up

* Greek stock market rises 7.4 pct (Updates with closing prices)

By Danilo Masoni

MILAN, Feb 15 (Reuters) - European shares rose sharply for the second consecutive session on Monday, boosted by a rebound in banking stocks and French telecoms shares prompted by signs of takeover activity in the sector.

The pan-European FTSEurofirst 300 index, which rose 3 percent on Friday, gained a further 2.9 percent on Monday. The euro zone's blue-chip Euro STOXX 50 index rose 2.8 percent.

The FTSEurofirst remains down around 12 percent this year because of worries over a global economic slowdown and the health of Europe's banking sector.

But bank stocks rose on Monday as investors welcomed plans by the European Central Bank (ECB) to buy bundles of Italian bad bank loans as part of its asset-purchase programme.

The Greek stock market also climbed 7.4 percent after the debt-ridden central government registered a primary budget surplus of 1.193 billion euros ($1.34 billion) in January.   Continuación...