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On the rise - European Markets

 

Europe shares hit a 11-month closing high

European stock markets ended the week in positive territory on Friday, swept along by investors optimistic about global economic prospects and a strong reading on a US consumer confidence index.

The pan-European FTSEurofirst 300 .FTEU3 index of top shares provisionally ended 0.6 percent higher at 993.97 points, its highest closing level in 11 months.

Elsewhere in Europe there were gains of 0.7 per cent in Amsterdam, 0.4 per cent on the Swiss Market Index, 0.8 per cent in Milan, 0.3 per cent in Brussels and 1 per cent in Madrid.

european_union_ stocks market

European shares closed higher on Friday, rising for the sixth consecutive day, as hopes about a swift global recovery pushed miners and banks into positive territory, while overseas macroeconomic data also helped.

The index plummeted 45 percent in 2008, but has gained nearly 20 percent this year, soaring 54 percent since falling to a record low in March.

However, it is still down almost 15 percent from its level in mid-September 2008, before the collapse of Lehman Brothers.

Mergers and acquisition activity has also made a return. This week, Kraft revealed a £10.2bn approach for Cadbury, while Deutsche Telekom and France Telecom announced plans to merge their UK operations.

Miners rose, with Rio Tinto (RIO.L), BHP Billiton (BLT.L), Anglo American (AAL.L) up between 1 and 3 percent.

Across Europe, Britain's FTSE 100 index .FTSE was up 0.5 percent, Germany's DAX index .GDAXI advanced 0.5 percent, and France's CAC 40.FCHI rose 0.8 percent.

LONDON MARKET REPORT

Miners, bank gains see FTSE sail beyond 5,000
Friday, 11 Sep 2009 07:10am EDT

Oils, miners, banks drive FTSE back above 5,000
Friday, 11 Sep 2009 04:20am EDT

FTSE drifts below 5,000; oils, banks weigh
Thursday, 10 Sep 2009 12:29pm EDT

FTSE falls 0.6 percent weighed by oils and miners
Thursday, 10 Sep 2009 08:09am EDT

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