9 de mayo de 2016 / 16:41 / en 2 años

European shares lifted by gains in Germany and Greece

* FTSEurofirst 300 ends up 0.5 pct

* Volkswagen rises after activist investor move

* Miners top sectoral loser on weak China data

* Milan underperforms, led lower by Banco Popolare (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). Adds details, updates shares)

By Sudip Kar-Gupta

LONDON, May 9 (Reuters) - European shares rose on Monday, bouncing back after two weeks of losses and supported by gains in Germany and Greece, with the Athens market advancing on expectations of progress in tackling Greece’s debt burden.

The pan-European FTSEurofirst 300 index rose 0.5 percent to 1,309.10 points, although it remains down 9 percent so far in 2016.

Germany’s DAX outperformed with a 1.1 percent rise, as the International Monetary Fund (IMF) said it had become slightly more optimistic regarding the German economy.

The German government last month stuck to its forecast of 1.7 percent for this year, despite a slowdown in emerging markets, with strong domestic demand replacing exports as the main pillar of Europe’s largest economy.

Data on Monday also showed a rebound in German industrial orders.

“The indices appear to be rising on the continued goodwill from a 10 month-high in German factory orders figure, and the increased hopes of avoiding a Greek calamity over the summer,” said Spreadex analyst Connor Campbell.

Greece’s stock market rose 0.7 percent, as euro zone officials turned their attention to tackling Greece’s huge debt repayments, with a view to a deal on May 24.

The DAX received a further boost from carmaker Volkswagen , whose shares rose after activist investor TCI demanded that VW overhaul its “excessive” executive pay scheme in order to boost profits at the company.

However, mining and steel stocks slumped following disappointing data from China, a major metal consumer, with Anglo American and ArcelorMittal falling 13.8 percent and 12.1 percent respectively.

China’s exports and imports fell more than expected in April, underlining weak demand and cooling hopes of a recovery in the world’s second-largest economy.

Milan’s blue chip index also fell 0.9 percent, as shares in Banco Popolare slid amid expectations of weak first-quarter results and with its 1 billion euro cash call getting closer.

“The moderately positive developments in Greece are helping but uncertainty over the macro picture remains,” said ActivTrades chief analyst Carlo Alberto de Casa.

Today’s European research round-up

ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.

If you have any thoughts, suggestions or feedback on this, please email mike.dolan@thomsonreuters.com.

Mike Dolan, Markets Editor EMEA. (Additional reporting by Danilo Masoni in Milan; Editing by Toby Chopra)

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