European shares break losing streak; miners gain

Thu Jul 9, 2009 5:35pm BST
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* FTSEurofirst 300 gains 0.8 pct after five days of decline

* Miners up on stronger metals prices, Alcoa results

* U.S. jobless claims lower than forecast

By Brian Gorman

LONDON, July 9 (Reuters) - European share markets closed higher on Thursday, bouncing after five days of losses, with miners and banks among those regaining some lost ground, .

The FTSEurofirst 300 index of top European shares was up 0.8 percent at 823.32 points, below its high for the day of 829.88 and after falling for five sessions in a row.

The benchmark is up more than 27 percent form the lifetime low in early March but the rally stalled last month on concerns about the pace of global economic recovery and corporate profits. The index hit a 10-week closing low on Wednesday.

"Markets are gaining back some of the losses, but the choppy performance will continue," said Gerhard Schwarz, head of global equity strategy at UniCredit, in Munich.   Continued...

 
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