LONDON, May 11 (Reuters) - European shares ended in positive territory on Friday, after a late rally on the back of positive U.S. economic data erased earlier losses, although many investors remained concerned over the health of Spain’s banks and Greece’s political impasse.
The FTSEurofirst 300 index provisionally ended up 0.3 percent at 1,022.31 points, having at one point fallen by around 1 percent to an intraday low of 1,006.89 points.
Spain’s IBEX was among the worst hit of the major indexes, however, down 0.7 percent, while the Athens stock market fell 4.5 percent to levels last seen during Europe’s Exchange Rate Mechanism crisis in late 1992.
“People who were short on the market all week are closing off their positions ahead of the weekend. But if Spain bails out its banks, who in turn will bail out Spain?” said a London-based equity dealer, who declined to be named.