European shares rise in early trade

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IOL bus mar11 Euro shares . File photo: Reuters

Paris - European shares rose in early trade on Tuesday, reversing some of the previous session's losses, helped in part by robust German imports and exports data.

The Federal Statistics Office reported Germany's seasonally adjusted exports rose 2.2 percent in January, well above a consensus forecast of 1.4 percent. Imports increased by 4.1 percent, more than double the highest forecast in a Reuters poll, 2.0 percent, with the consensus forecast at 1.3 percent.

At 0810 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,323.76 points.

Mining and metal shares featured among the top gainers, halting their recent fall caused by concern over the pace of growth in China. Anglo American was up 1.9 percent and ArcelorMittal up 0.9 percent.

The rebound could be capped, however, by tensions in Ukraine and lingering worries over growth in China, said Guillaume Dumans, co-head of research firm 2Bremans.

“Market players remain cautious. There's a lack of enthusiasm in chasing stocks, and some are just thinking about moving to the sidelines after the roller-coaster ride we've had since the start of the year.”

Confrontation around the Black Sea peninsula showed no sign of easing, as a pro-Russian force opened fire when it seized a Ukrainian military base in Crimea on Monday and NATO announced reconnaissance flights along its eastern frontiers.


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