European shares rise on gains by Gemalto, mining companies

viernes 4 de marzo de 2016 07:57 GYT

* Gemalto surges after results

* Firmer metals prices boost mining stocks

* Carige leads Italian banks lower (Adds details, updates prices)

By Sudip Kar-Gupta and Danilo Masoni

LONDON/MILAN, March 4 (Reuters) - European shares rose on Friday as chipmaker Gemalto reported solid results and mining stocks advanced.

The pan-European FTSEurofirst 300 index, which had risen in five of the last six sessions, edged up 0.2 percent by 1130 GMT. The euro zone's Euro STOXX 50 index was up 0.5 percent.

European stocks have rallied after a rocky start to 2016, as oil prices recovered and fears over a U.S. economic slowdown abated. Nevertheless, the FTSEurofirst remains down around 7 percent since the start of the year.

"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 9 percent after it reported a rise in annual profits. Mining stocks such as Glencore and Antofagasta advanced, helped by a rally in the prices of major industrial metals.   Continuación...