Europe Roundup: London stands out

LONDON: A surge in British equities helped keep European shares positive yesterday, as major eurozone markets fell, after key indicators of economic activity came in below expectations, adding to worries that the region could go into recession.

Eurozone economic sentiment deteriorated more than expected in August, data showed yesterday.

The sentiment indices "were key" in the market's fall, said Richard Batty, strategist at Standard Life Investments, part of the Standard Life Group. "Europe can't afford to see a soft patch like this."

At 1052 GMT, the FTSEurofirst 300 index of top European shares was up 0.7 per cent at 937.57 points.

In late morning deals, the British capital's FTSE 100 index of leading shares leapt 2.33 per cent to 5,249.19 points, as traders returned to action after a public bank holiday on Monday.

But Frankfurt's DAX 30 index slid 0.46 per cent to 5,643.76 and in Paris the CAC 40 shed 0.18 per cent to 3,149.96. - Agencies