Bounce in Greek market lifts European shares

European shares climbed on Thursday, with the automobile sector rising on positive company updates while Greek shares bounced higher on renewed expectations of a resolution to its debt problems. The STOXX Europe 600 Automobile & Auto Parts index rose 1 per cent, outperforming a 0.6 per cent advance on the pan-European FTSEurofirst 300 index. The car sector was helped by a 1.1 per cent gain, while BMW also rose 1.4 per cent after unveiling a new flagship sedan. Greek shares rallied 6.8 per cent, rebounding from a 1.1 per cent decline in the previous session, while the Athens' banking index surged 14.2 per cent. Athens' main ATG index remains down by around 2 per cent since the start of 2015, underperforming a 14 per cent rise on the FTSEurofirst.  Across Europe, Germany's DAX was up 0.8 per cent, while France's CAC advanced 0.7 per cent. The DAX remains up around 16 per cent since the start of 2015, although some 8 per cent below record highs hit in April, according to Reuters.