PARIS Feb 6 European shares rose in early trade
on Thursday, bouncing back from a sharp two-week selloff, with
telecom gear maker Alcatel-Lucent surging 7.4 percent
after posting reassuring results.
The market's rebound could be limited, however, ahead of a
European Central Bank meeting later in the day. Following a
recent surprise fall in inflation, pressure has risen on the ECB
to ward off the risk of the euro zone slipping into deflation
While most money market traders expect the central bank to
keep interest rates on hold at the meeting, some speculate it
could use other ammunition to combat falling inflation.
Investors were also reluctant to take fresh positions ahead
of Friday's U.S. monthly jobs report.
At 0811 GMT, the FTSEurofirst 300 index of top
European shares was up 0.4 percent at 1,276.94 points.
The benchmark had tumbled 6 percent in the past two weeks,
its sharpest pull-back in seven months and a slide sparked by
tepid U.S. and Chinese manufacturing data as well as concerns
over the impact on emerging market assets of reduced stimulus
from the U.S. Federal Reserve.
Bucking the trend on Thursday, Credit Suisse,
AstraZeneca and Sanofi lost ground, down
0.7-1.6 percent, after posting disappointing results.