European shares rebound as Lloyds and AXA lift financials

jueves 25 de febrero de 2016 04:52 GYT

* FTSEurofirst 300 rises but still down since start of 2016

* Lloyds and AXA rise after results

* But Zodiac slumps after profit warning

* Citi stays overweight on continental Europe shares

By Sudip Kar-Gupta

Feb 25 () - European shares rebounded on Thursday from losses earlier in the week, as solid corporate results from the likes of French insurer AXA and British bank Lloyds lifted stock markets.

The pan-European FTSEurofirst 300 index, which had fallen around 4 percent in the previous two sessions, rose 1.3 percent.

The FTSEurofirst nevertheless remains down by around 10 percent since the start of 2016, with concerns about a slowing global economy having hit world stock markets and commodity prices this year.

However, Hampstead Capital hedge fund manager Lex Van Dam said equities remained his preferred asset class, given hits to returns on bonds and cash from negative interest rates set by the likes of the Bank of Japan and European Central Bank (ECB).   Continuación...