8 de septiembre de 2015 / 17:08 / en 2 años

Germany's DAX outperforms European shares after strong data

* FTSEurofirst 300 up 1.2 pct, DAX up 1.6 pct

* German data and late bounce in Chinese shares help

* Amlin surges 33 pct after MS&AD agrees to buy firm (Updates with closing prices)

By Atul Prakash and Alistair Smout

LONDON, Sept 8 (Reuters) - European equities rose on Tuesday, with Germany’s benchmark DAX share index outperforming the broader market after strong trade data.

Analysts said a late bounce in Chinese stocks, with the Shanghai Composite Index rising 2.9 percent after falling earlier, had also improved sentiment. European shares recently came under severe pressure from a steep sell-off in Chinese equities and concerns about China’s economic growth.

The pan-European FTSEurofirst 300 index was up 1.2 percent at 1,415.58 points by the close, while the DAX index was up 1.6 percent at 10,271.36 points.

Figures showed German exports and imports hit record highs in value terms in July, suggesting foreign appetite for goods from Europe’s largest economy remained robust despite the slowdown in China, while domestic demand was also holding up.

“The German data is offering some relief that the European recovery remains on track and German exports are not impacted too much by the emerging market turmoil,” Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, said.

“European shares are also up on the back of a rebound in Chinese stocks overnight.”

A surge in late-afternoon buying helped Chinese stocks erase early losses and end sharply higher. But trading volumes in both equity and index futures markets shrank, after a slew of government steps aimed at curbing speculative activity.

Miners tracked a rally in metals prices after China’s August trade data showed copper imports holding steady despite signs of a broader struggle for growth. Overall, China’s imports shrank far more than expected in August, falling for a 10th straight month.

The STOXX Europe 600 Basic Resources index rose 2.7 percent.

Shares in Commerzbank gained 6.8 percent, the top gainer in the FTSEurofirst 300 index, tracking a broader market rally and as JP Morgan raised its stance on the stock to “overweight” from “neutral”.

“We upgrade ... on attractive valuation and solid capital,” analysts at JP Morgan said in a note, adding that Commerzbank’s domestic exposure made it one of their top picks in the sector.

Amlin surged 33 percent after Japan’s MS&AD Insurance Group Holdings said it had agreed to buy the British company for 3.47 billion pounds ($5.3 billion).

K+S shares jumped in late trade, and closed up 7.3 percent after German business daily Handelsblatt reported Potash Corp is considering a hostile bid. (Editing by David Holmes/Ruth Pitchford)

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