LONDON (Reuters) - European shares and the euro rose on Tuesday as slightly better than expected performances by the German and French economies in the second quarter eased anxiety about wider euro zone data that are likely to show the bloc sliding back towards recession.
After worrying China trade figures on Friday and Monday's report showing a slowdown in Japan's economy, investors are ready for more bad news when euro zone April-June gross domestic product data are published at 0900 GMT.
Economists polled by Reuters see euro zone GDP contracting 0.2 percent quarter-on-quarter. [ID:nL6E8JD8NF] However, this pessimism softened when Germany reported growth of 0.3 percent and France managed to avoid a contraction. [ID:nL6E8JD6D0]
Top European shares, which took their biggest tumble in a week on Monday, opened Tuesday's session up 0.5 percent. Indexes in London, Paris and Frankfurt were all higher.
The euro was up 0.3 percent at $1.2375, while German government bonds, traditionally favored by risk adverse investors, were down 43 ticks following the data.
"There was a slight positive surprise from Germany and France, so that has helped lift the market," said Aline Schuiling, senior economist at ABN Amro. "But the risks for Q3 remain to the downside and the overall picture for the euro zone remains bleak," she added
(Reporting by Marc Jones; editing by David Stamp)
Source: http://news.yahoo.com/shares-euro-gain-ahead-u-euro-zone-data-030728848--finance.html
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