PARIS, Apr 17: European shares rose in early trade on Wednesday as investors started to look for bargains after a steep three-session selloff, reassured by better-than-expected results from U.S. And European companies.
At 0706 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,170.42 points while the euro zone’s blue chip Euro STOXX 50 index was up 0.5 percent at 2,622.59 points.
‘This has been a serious pull-back, so it’s not a surprise to see a rebound today considering the fact that U.S. Earnings are quite reassuring so far, although we’re just at the beginning of the season,’ David Thebault, head of quantitative sales trading, at Global Equities.
‘The market should stabilise from here, until we get a better picture on the earnings side.’
Burberry surged 6.2 percent after the British luxury group posted a 10 percent rise in fourth quarter revenue, helped by strong demand for its more expensive products in China.
Tech group ASML also featured among the top gainers, up 6.2 percent, after saying it expects a pick-up in second-quarter sales.
(AGENCIES)
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