European shares gain in late trade as U.S. turns positive

LONDON Tue Nov 13, 2012 3:48pm GMT

LONDON Nov 13 (Reuters) - Bargain hunters helped European stocks higher approaching the close on Tuesday, spurred on by gains in the United States, where indexes turned positive after early weakness.

By 1542 GMT, the FTSEurofirst 300 was up 1.94 points, or 0.2 percent, at 1,096.29, bouncing off a session low of 1,086.37.

Traders cited a number of potential catalysts for the rebound including technical reasons and hopes of a rescue package for Greece and Spain being agreed and an early resolution to U.S. fiscal cliff.

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.