STOCKS NEWS EUROPE-Shares rise in early trade; autos, pharma up

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08:33GMT 06Jan2009-European shares rise in early trade

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European shares rise in early trade as investors hope that fiscal stimulus plans by U.S. President-elect Democrat Barack Obama and the German government will help a recovery in equities. By 0825 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares is up 0.3 percent at 875.62 points.

The pharmaceutical sector lead the risers on the index. AstraZenenca (AZN.L), GlaxoSmithKline (GSK.L) and Sanofi-Aventis (SASY.PA) are up 1.6 percent each. The automobile sector rises after heavy losses on Monday. Volkswagen (VOWG_p.DE) is up more than 5 percent and Daimler (DAIGn.DE) gains 1.7 percent.

Across Europe, the FTSE 100 .FTSE index is down 0.2 percent, Germany's DAX .GDAXI falls 0.4 percent and France's CAC 40 .FCHI down 0.3 percent.

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