Chinese solar energy company Suntech Power Holdings (STP.NYSE) said on Monday it expects to post a first-quarter revenue of US$580-590 million on surging demand, Reuters reported. This exceeds analyst expectations of US$542 million. The Wuxi-based company’s announcement, combined with the euro rebound on Monday, lifted Suntech shares by 9.61% to US$11.50. Suntech said it expects gross margins of 19-20% during the period, compared with its previous forecast of 18-20%. But the company added that it would incur a foreign exchange loss of US$24-25 million in the quarter due to the weakening of the euro versus the US dollar. Europe – home to the world’s top solar market, Germany – accounts for the bulk of solar-panel makers’ sales. Analysts said Suntech would likely fall short of earnings-per-share expectations when the company reports full earnings on June 3.