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UPDATE 3-Bourses break three-day decline.
(From FT Investor (Stories))
LONDON (FT.com) - European bourses snapped a three-day losing streak on Tuesday morning as investors brushed aside overnight weakness for Wall Street and focused instead on a strong early rise for US stock index futures.
Insurance stocks extended Monday's rally, and there were also useful gains for retailers following a sparkling set of figures from Marks and Spencer of the UK.
The pan-European FTSE Eurotop 100 index rose 1 per cent to 1,829.39 while the Xetra Dax index in Frankfurt was 0.8 per cent higher.
In Paris, the CAC 40 was up 1.2 per cent and London's FTSE 100 firmed 0.7 per cent. See London markets report
But strategists warned that the markets were far from out of the woods yet.
"There's a plethora of reasons to remain very much on the defensive in these markets, whether we look at P/E ratios still above historical norms, earnings downgrades, no capital expenditure pick-up [or] global economic weaknesses," said Steve Hatton, strategist with spread-betting firm Deal4Free.com
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