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European shares snap two-day slide; Novo Nordisk rallies

Reuters - UK Focus

PARIS, March 27 (Reuters) - European stocks rose in early trade on Friday, halting a sharp two-day retreat as a renewed fall in the euro currency helped boost the shares of exporting companies.

At 0804 GMT, the FTSEurofirst 300 index of top European shares was up 0.7 percent at 1,584.88 points, after losing nearly 2 percent in two sessions.

The euro fell back on Friday, trading at $1.0811, well below Thursday's intraday high of $1.10525. European shares have strongly rallied in the past six months as investors bet a sharp drop in the euro currency will boost the region's economy and lift corporate results.

Shares (Berlin: DI6.BE - news) in Denmark's Novo Nordisk (LSE: 0QIU.L - news) featured among the top gainers, up 13 percent after the pharmaceutical firm decided to submit interim analysis data from a clinical trial of its crucial new insulin drug Tresiba to U.S. regulators within the next month. (Reporting by Blaise Robinson; Editing by Francesco Canepa)