European shares turn positive; banks and SKF rise

LONDON, April 16 (BestGrowthStock) – European shares turned positive
in morning trade on Friday as industrials gained after SKF
(SKFb.ST: ) results beat expectations and banks recovered from
earlier falls.

By 0857 GMT, the pan-European FTSEurofirst 300 (.FTEU3: )
index of top shares was up 0.1 percent at 1,113.15 points after
trading as low as 1,106.02 points earlier.

SKF, the world’s biggest bearing maker, surged 7.5 percent
after it reported better-than-expected first-quarter results.

In the banking sector, Royal Bank of Scotland (RBS.L: ) surged
6.8 percent after BofA Merrill Lynch said the shares could
double on a two-year view.

Stock Market Trading

(Reporting by Joanne Frearson)

European shares turn positive; banks and SKF rise