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Europe Roundup: Banks lead rebound
by hlk Wed 20 Jul 2011, 07:57
LONDON: European shares rose yesterday, with forecast-beating earnings lifting some companies, tech shares gaining after an upbeat statement from IBM and banks recouping some ground lost in the previous session's steep fall.
However, investors were still cautious ahead of a key meeting to address the euro zone debt crisis last Thursday.
At 0922 GMT, the FTSEurofirst 300 index of top European shares was up 0.9 per cent at 1,077.17 points, after falling 1.7 per cent in the previous session to a four-month closing low.
The STOXX Europe 600 Banking Index rose 2.3 per cent, though it is still down more than 13 per cent in 2011. Heavyweights to gain included Intesa SanPaolo , Societe Generale and UniCredit , up between 3.7 and 4.7 per cent. - Reuters
However, investors were still cautious ahead of a key meeting to address the euro zone debt crisis last Thursday.
At 0922 GMT, the FTSEurofirst 300 index of top European shares was up 0.9 per cent at 1,077.17 points, after falling 1.7 per cent in the previous session to a four-month closing low.
The STOXX Europe 600 Banking Index rose 2.3 per cent, though it is still down more than 13 per cent in 2011. Heavyweights to gain included Intesa SanPaolo , Societe Generale and UniCredit , up between 3.7 and 4.7 per cent. - Reuters
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