Europe shares snap four-day losing run
Tuesday, 29 June 2010
LONDON, June 28 (Reuters): European share rose in early trade Monday, snapping a four-session losing run, with financials gaining as the Group of Twenty (G20) agreed to provide more time to banks to adopt stringent rules.
At 3:11 am ET, the FTSEurofirst 300 index of top European shares was up 0.5 per cent at 1,018.26 points after falling 0.7 per cent in the previous session.
Banks were among the top gainers, with Royal Bank of Scotland, BNP Paribas and Societe Generale rising 0.9 to 1.2 per cent.
At a summit in Toronto Sunday, the G20 adopted a more flexible timeline for banks to build up higher levels of capital and liquidity, giving breathing space to the sector still reeling from the global recession.
G20 leaders also agreed to take their own paths to ensuring economic growth and left room to move at their own pace, trying to balance contrasting priorities by pledging to halve budget deficits by 2013 without stunting growth.
At 3:11 am ET, the FTSEurofirst 300 index of top European shares was up 0.5 per cent at 1,018.26 points after falling 0.7 per cent in the previous session.
Banks were among the top gainers, with Royal Bank of Scotland, BNP Paribas and Societe Generale rising 0.9 to 1.2 per cent.
At a summit in Toronto Sunday, the G20 adopted a more flexible timeline for banks to build up higher levels of capital and liquidity, giving breathing space to the sector still reeling from the global recession.
G20 leaders also agreed to take their own paths to ensuring economic growth and left room to move at their own pace, trying to balance contrasting priorities by pledging to halve budget deficits by 2013 without stunting growth.