LONDON, April 19 European shares rose early on
Friday, attempting to rebound from five consecutive sessions of
losses, with markets looking for action from finance ministers
to curb the recent decline in global growth.
By 0703 GMT, the FTSEurofirst 300 was up 5 points,
or 0.4 percent, at 1,152.38, echoing overnight gains in Asia.
The index continued to find support around 1,148, the level at
which it has bounced 5 times already this year.
The index has shed almost 4 percent since last Friday on
growing concerns over waning global growth hitting corporate
earnings, and some investors were hoping for signs of more
stimulus from a meeting of finance leaders of the G20 on
"The euro zone needs unsterilized QE (quantitative easing).
We need to have money printing in Europe and with the failure of
other policies and austerity then that is more likely to
happen," Colin Mclean, SVM Asset Management managing director,
"The potential stimulus coming from that in the short-term
could be quite good for equities," he said.
Hard hit basic resources and banks were the
top gainers early on, up 1.5 and 1.0 percent respectively.