LONDON, July 22 European stocks rebounded on
Tuesday, boosted by signs of collaboration between pro-Russian
rebels in Ukraine and international investigators into the
downing of an airliner last week.
The pan-European FTSEurofirst 300 index was up 0.5
percent at 1,362.92 points, erasing losses in the previous
session after Ukrainian separatists handed over the black boxes
of the plane, following calls from Western governments.
The prospect of heightened tensions between Russia and the
West following the plane incident, combined with a civilian
bloodshed in an Israeli offensive in the Gaza Strip, have
weighed on equities in the past week and traders expected the
market to remain jittery.
"There will probably be some relief early doors but with
some risk-off remaining," Mike Reuter, a broker at Tradition,
said. "There's no resolution to the conflict. Fighting in
Donetsk continues and the Gaza conflict is also ongoing."
Actelion, Europe's largest biotech company, was the top
riser on the FTSEurofirst 300, rising 4 percent after it hiked
its 2014 profit forecast for the second time this year.
(Reporting By Francesco Canepa; Editing by Alistair Smout)