Credit Agricole, Glencore lead European share rally

miércoles 17 de febrero de 2016 11:52 GYT

* Credit Agricole up after results

* Glencore gains after refinancing debt

* RWE slumps after dividend scrapped

* FTSEurofirst still down 10 pct since start of 2016 (Updates prices, adds details)

By Sudip Kar-Gupta and Danilo Masoni

LONDON/MILAN, Feb 17 (Reuters) - European stocks rose sharply on Wednesday, helped by stronger crude oil prices on optimism over an output deal, and boosted by a rise in the shares of French bank Credit Agricole and miner Glencore.

The pan-European FTSEurofirst 300 index was up 2.4 percent by 1539 GMT, and the euro zone's blue-chip index Eurostoxx 50 index added 2.6 percent.

The index remains down around 10 percent since the start of 2016 due to persistent concerns about a global economic slowdown and weak commodity prices. But the FTSEurofirst 300 has staged a recovery recently, rising 6 percent in the two sessions before Tuesday's slight drop, partly on a recovery in banking shares.

"Overall sentiment is neutral to positive, with the momentum clearly pointing to the upside," said City of London Markets Limited trader Markus Huber.   Continuación...