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EasyJet leads European shares higher, focus on Ifo

Reuters - UK Focus

LONDON, March 25 (Reuters) - European stocks edged higher on Tuesday, led by British-listed airline EasyJet (Other OTC: ESYJY - news) after a outlook upgrade, although gains were kept in check by expectations of tepid data from Germany.

The British budget airline, up 3.7 percent, upgraded its first-half outlook, saying it now expected a first-half loss similar to last year's level as it kept a lid on costs.

The stock was the top riser on the pan-European FTSEurofirst 300 index, which was up 0.3 percent at 1,297.98 points at 0802 GMT, taking its cue from a late recovery on Wall Street.

Some traders and analysts said gains could be limited on Tuesday if Germany's closely watched Ifo business morale index, due to be published at 0900 GMT, disappoints, mirroring lower-than-expected German PMI data on Monday. (Reporting By Francesco Canepa)