Europe shares rebound; Daimler gains after results

LONDON, April 20 (BestGrowthStock) – European shares rose in early
trade on Tuesday, reversing losses from the previous session,
with banks gaining and carmakers strong as Daimler (DAIGn.DE: )
rose after doubling its profit outlook.

By 0706 GMT, the pan-European FTSEurofirst 300 (.FTEU3: )
index of top shares was up 0.7 percent at 1,095.05 points.

“Q1 earnings are coming through on balance better than
expected with strong results from Daimler in Europe and
Citigroup (C.N: ), and there is a bit of relief on Goldman Sachs
(GS.N: ),” said Bernard McAlinden, investment strategist at NCB
Stockbrokers.

Luxury carmaker Daimler rose 7 percent. The firm said it
might earn twice as much as it previously forecast from its
Mercedes-Benz passenger car business this year after lively
demand for its flagship product in the first three months of the
year. [ID:nN19214499]

Banks were among the biggest gainers, shaking off some of
the previous session’s losses. Barclays (BARC.L: ), HSBC (HSBA.L: ),
Societe Generale (SOGN.PA: ), BNP Paribas (BNPP.PA: ) and Deutsche
Bank (DBKGn.DE: ) rose 0.5 to 1.6 percent.
(Reporting by Harpreet Bhal)

Europe shares rebound; Daimler gains after results