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European shares rebound, with Zodiac zooming up

Reuters - UK Focus

LONDON, June 15 (Reuters) - European shares rose early on Wednesday after a five-day losing streak caused by jitters about next week's British referendum on European Union membership, with Zodiac Aerospace (LSE: 0NR6.L - news) surging after posting higher sales.

The pan-European FTSEurofirst 300 index rose 0.9 percent, as did the pan-European STOXX 600 index.

Zodiac shares rose 8.1 percent after the company reaffirmed financial targets for 2015/16 as it posted a 5.9 percent rise in nine-month revenues.

British housebuilders such as Taylor Wimpey (LSE: TW.L - news) and Berkeley underperformed after Berkeley said there was a 20 percent drop in reservations of new homes at the start of the year, due partly to concerns over Britain's EU vote. (Reporting by Sudip Kar-Gupta; Editing by Catherine Evans)