March 1, 2012 / 9:41 AM / 6 years ago

European shares reverse losses, banks lead

LONDON, March 1 (Reuters) - European shares reversed earlier losses to move higher on Thursday, with investors turning more upbeat on the impact of this week’s ECB cash injection on the banking sector and peripheral countries such as Italy.

The FTSE Eurofirst was up 0.3 percent at 1,078.92 points at 0932 GMT, bouncing up from a session low of 1,071.58.

Banks, which had fallen in early trade, recovered to rise more than 1 percent.

Upbeat economic data from China also helped brighten sentiment, traders said. With month-end portfolio rebalancing complete, that enabled the European market to edge higher. (Reporting By Toni Vorobyova)

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