European shares turn flat as weakness attracts buyers

London — European shares briefly turned flat around mid-session trade on Friday, with traders saying that earlier losses attracted a wave of buyers keen to take advantage of cheaper levels, and with autos boosted by car sales data.

 

The FTSEurofirst 300 was flat at 1,245.43 points by 0957 GMT, recovering from a session low of 1,239.55.

 

"The market doesn't want to go down ... Every time the market goes back, we have long funds going in to buy, and we see it in all the stocks we cover," said Martin Tormey, head of equity trading at Goodbody Stockbrokers.

 

Autos led the gainers after data showed Europe's car market growing for the first time in 1-1/2 years in April. — Reuters