April 5, 2012 / 7:14 AM / 5 years ago

European shares find support after slide

LONDON, April 5 (Reuters) - European shares rose on Thursday, snapping a two-session slide, with investors tempted back into the market after the FTSEurofirst 300 index hit a support level where buyers have returned in the past.

Stocks which were among the worst performers on Wednesday such as financials were the big movers, with the STOXX Europe 600 Banks index rising 0.7 percent.

By 0710 GMT, the pan-European FTSEurofirst 300 index of top shares was up 0.3 percent at 1,054.31 points, having fallen to a two-month low in the previous session after a disappointing Spanish bond auction.

On Wednesday, the index had dropped back to near its March low at 1,050.99 points - a support level.

"European stock markets got to levels yesterday where there is going to be technical support and I would not be surprised if we see a bounce of 0.5 to 0.8 percent today," Will Hedden, sales trader at IG Index, said.

"We are seeing investors positioning themselves in what was sold-off yesterday like the miners and the financials."

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below