Pandora and Credit Suisse help European shares to advance

By Reuters/ Atul Prakas   May 9, 2016 | 11:47 pm PT
European shares advanced on Tuesday, with Danish jewellery maker Pandora surging after strong results and Swiss bank Credit Suisse gaining following its smaller than expected first quarter loss.

The pan-European FTSEurofirst 300 index was up 1.1 percent by 0720 GMT, adding to a 0.5 percent rise in the previous session.

Miners were also in demand after slumping in the previous session, with the STOXX Europe 600 Basic Resources index rising 1.7 percent following a recovery in metals prices.

Pandora rose 7.2 percent after reporting a bigger than expected rise in first-quarter operating profit on strong sales growth and raising its full-year forecast.

Credit Suisse was up 5.5 percent. Although it saw tough market conditions continuing at least through the second quarter, it posted a lower than expected loss of 302 million Swiss franc ($311 million) for the first quarter. 

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