July 9 (Reuters) – European shares rose in early trade on Friday, tracking gains on Wall Street, which was boosted by jobless claims falling and a handful of large retailers reporting solid sales.
At 0706 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.6 percent at 1,021.19 points, after rising 5.1 percent in the previous three sessions.
“We’ve had better information this week, such as German exports, offsetting some of the worries about China slowing down. China will slow down, but it’s not going to stop,” said Justin Urquhart Stewart, director at Seven Investment Management. In a broad rally, the heavyweight banking sector was among the gainers, with the STOXX Europe 600 banking index .SX7P up 0.7 percent. The index is up more than 9 percent this week, on optimism that banks will pass stress tests, and after State Street (STT.N) said its earnings would beat forecasts.
Gainers included BNP Paribas (BNPP.PA), BBVA (BBVA.MC) and Credit Agricole (CAGR.PA), up between 1 and 1.4 percent. (Reporting by Brian Gorman)