LONDON, March 20 European shares snapped a
three-day losing streak on Wednesday as investors bought back
battered stocks, betting that the Cypriot debt crisis would
eventually be resolved.
Traders said the limited size of Cyprus's cash requirements
meant it was likely a compromise with international lenders
would be found, although they cautioned that equity markets
would probably remain volatile.
The European Central Bank said after the vote it remained
committed to providing liquidity within certain limits, helping
"I'm certainly buying on the dips but not brave enough yet
to try and buy the banks," Ed Woolfitt, head of trading at
"Whilst it is all semi optimistic over Cyprus until it is
resolved the banks could still get squeezed, and with so much
more quality stocks being dragged down there's no need to go
looking for trouble right now."
The pan-European FTSEurofirst 300 index was up 0.4
percent at 1,200.21 points.