PARIS, March 31 (Reuters) - European stocks gained ground in early trade on Tuesday in a broad rally clawing back a portion of the past two sessions' sharp losses as investor focus turned to a meeting of G20 world leaders.
British retailer Marks & Spencer (MKS.L) surged 11 percent after posting a smaller-than-expected fall in underlying fourth-quarter sales, saying it was turning around its troubled food business and holding market share in clothing.
At 0832 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 1.6 percent at 720.58 points. The index, which sank 3.9 percent on Monday, is down 14 percent in 2009, hit by the deepening global economic downturn as well as fears over the health of the banking system.
"The macro landscape has been stabilising, which has helped equities bounce back from historical lows. But to really improve market sentiment, we need to see the data improving and not just stabilising," said Jacques Henry, analyst at Louis Capital Markets, in Paris. read more
British retailer Marks & Spencer (MKS.L) surged 11 percent after posting a smaller-than-expected fall in underlying fourth-quarter sales, saying it was turning around its troubled food business and holding market share in clothing.
At 0832 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 1.6 percent at 720.58 points. The index, which sank 3.9 percent on Monday, is down 14 percent in 2009, hit by the deepening global economic downturn as well as fears over the health of the banking system.
"The macro landscape has been stabilising, which has helped equities bounce back from historical lows. But to really improve market sentiment, we need to see the data improving and not just stabilising," said Jacques Henry, analyst at Louis Capital Markets, in Paris. read more
