European shares snap 3 days of losses; techs gain

LONDON, June 9 (BestGrowthStock) – European shares rose on Wednesday
to rebound from three sessions of falls, with techology stocks
higher, though gains were tempered by lingering worries that the
euro zone debt crisis could erode economic growth.

Sentiment was also boosted as sources quoted a senior
government official in China as saying that the country’s
exports in May grew about 50 percent from a year earlier, ahead
of the data’s release on Thursday. [ID:nBJD003776]

By 0703 GMT, the pan-European FTSEurofirst 300 (.FTEU3: )
index of top shares was up 0.8 percent at 988.47 points, after
closing 1 percent lower on Tuesday.

“After three days down you get some relief and markets pause
but the well known problems around the debt crisis are still
there and there’s no relief from that,” said Bernard McAlinden,
investment strategist at NCB Stockbrokers in Dublin.

Technology stocks found support after U.S. peer Texas
Instruments Inc (TXN.N: ) said second-quarter earnings and revenue
would be at the high end of its previous estimates, with
Capgemini (CAPP.PA: ), Alcatel-Lucent (ALUA.PA: ) and Nokia
(NOK1V.HE: ) up 0.8 to 1.4 percent.

Inditex (ITX.MC: ) rose 4.6 percent as the owner of fashion
chain Zara returned to double-digit growth in its first quarter,
posting a 63 percent rise in net profit thanks to strong sales
and positive currency effects. [ID::nLDE65803K]

Stock Report

(Reporting by Harpreet Bhal)

European shares snap 3 days of losses; techs gain