European shares lifted by stronger banks; Man Group surges

viernes 14 de octubre de 2016 12:43 GYT

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) Updates prices, adds details)

* STOXX 600 rises, but still down around 7 pct in 2016

* Banks lead sectoral gainers

* Man Group tops STOXX gainers

By Danilo Masoni and Sudip Kar-Gupta

MILAN/LONDON, Oct 14 (Reuters) - European shares rose on Friday to claw back ground lost in the previous session, with banking stocks outperforming, while hedge fund Man Group also surged higher.

The pan-European STOXX 600 index rose 1.3 percent, after touching during the previous session a three-month low.

The index however remains down by around 7 percent so far in 2016, but Clairinvest fund manager Ion-Marc Valahu backed having a "long" position to bet on more gains for European stocks.

He cited expectations that Deutsche Bank would reach a settlement with U.S. authorities over alleged mis-selling of mortgage backed securities as one reason for this.   Continuación...