European shares inch up on gains at Gemalto and miners

viernes 4 de marzo de 2016 05:23 GYT
 

* Gemalto surges after results

* Firmer metals prices boost mining stocks

By Sudip Kar-Gupta

LONDON, March 4 (Reuters) - European shares inched up on Friday as solid results at chipmaker Gemalto and firmer mining stocks kept equities on their recent upwards trajectory.

The pan-European FTSEurofirst 300 index, which had risen in five of the last six sessions, edged up 0.1 percent, as did the euro zone's blue-chip Euro STOXX 50 index.

After a turbulent start to 2016 due to worries about global growth and the health of the banking sector, European stocks have had a recent rally as oil prices recovered and fears over a U.S. economic slowdown abated.

Nevertheless, the FTSEurofirst remains down by around 7 percent since the start of 2016.

"The recession fears were overdone. The market panicked in January and went into risk-off mode too quickly. I was buying back in January and February although I'm not adding any more for now," said Clairinvest fund manager Ion-Marc Valahu.

Gemalto rose by more than 10 percent after it reported a rise in annual profits.   Continuación...