European shares rose on Thursday recovering around half of the previous session's sharp falls after a Spanish bond auction met good demand and U.S. jobless claims and manufacturing data showed signs of economic improvement in the United States.
We have some respite through a good auction and of course the U.S. data has been reasonably supportive, Richard Batty, strategist at Standard Life Investments, part of the Standard Life Group, which administers $303.32 billion of assets, said.
But we still do not have a policy roadmap in place which enables Europe to avoid a slowdown and get back on track. We have not changed our asset allocation around and are underweight European equities.
The pan-European FTSEurofirst 300 <.FTEU3> index of top shares provisionally closed up 1.1 percent at 963.14 points after falling 2.1 percent in the previous session.
(Reporting by Joanne Frearson)