UPDATE 2-European shares end choppy session higher after Wall St bounce

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* Wirecard surges on report of potential buyer interest
* AMS jumps on reports EU set to approve Osram takeover
* Euro zone banks jump more than 3%, lead gains

(Updates to market close)
By Sruthi Shankar
June 29 (Reuters) - European shares ended a volatile session
higher on Monday, lifted by strong gains on Wall Street and a
rally in cyclical stocks as improving data spurred hopes of a
faster economic recovery.
After hovering near flat earlier in the session, the
pan-European STOXX 600 index .STOXX rose 0.4% and eurozone
blue-chip stocks .STOXX50E jumped 0.9%.
The euro zone banks .SX7E were the biggest gainers, up
3.2% after data showed a recovery of economic sentiment across
the bloc intensified in June. A bright start for Wall Street also lifted the mood, as
talks of more stimulus helped investors to look past a spike in
the global death toll from COVID-19. .N Aside from banks, other growth-sensitive sectors such as oil
and gas .SXEP , industrial companies .SXNP and automakers
.SXAP led gains in Europe.
"In the U.S., they are actively talking of another round of
stimulus and that will help the market to some degree," said
Andrew Manton, portfolio manager for international equities at
Shelton Capital Management.
"But we're in a waiting game because all this stimulus has
been priced in. Now we'll have to see if it works in the real
economy."
Although the pace of a market recovery has slowed following
an initial rally from March lows, European stocks have
outperformed their U.S. counterparts in June, helped by the
region's relative success in reopening its economy and the
European Union's proposed 750 billion euro ($841.73 billion)
recovery fund. The world's largest asset manager BlackRock upgraded
European equities to "overweight" on Monday, with the region
poised to benefit from the restarting of economies. German scandal-hit payments company Wirecard WDIG.DE
soared 154.5% following a near 170% plunge over the last three
weeks after reports that French payments processor Worldline
WLN.PA and other private investors are interested in buying
parts of the company.
Austrian sensor producer AMS AMS.VI AMS.S jumped 5.1%
after Reuters reported the company was poised to get the
go-ahead from the European Union for its acquisition of German
lighting group Osram OSRn.DE . Commerzbank CBKG.DE surged 5.7% after a German newspaper
reported that the lender's board will likely approve more branch
closures and job cuts at an extraordinary meeting next week.
Consumer stocks, such as Unilever UNA.AS , Danone DANO.PA
and Nestle NESN.S , weighed on the markets, falling between
0.1% and 2.6%.