European shares extend gains as Wall Street rises

LONDON Fri Nov 23, 2012 2:39pm GMT

LONDON Nov 23 (Reuters) - European stocks extended gains on Friday afternoon, as a rise in U.S. indexes fuelled a technical rebound and raised expectations of further market gains.

Britain's FTSE 100 was 0.5 percent higher at 5,816 points at 1434 GMT, gaining momentum after breaking above a resistance at 5,800, which had capped the index twice this month.

The U.S. Dow Jones index was up 0.5 percent at 12,900 .

"When we saw a sustained move through anybody who was short threw the towel in," David Jones, chief market strategist at IG, said.

"On the Dow many people are looking at 12,900 as a bit of a barrier. If we see that go, then that would drag Europe higher."

The pan-European FTSEurofirst 300 was up 0.4 percent at 1,108.03 points.