European shares extend gains to new intraday high
LONDON Nov 29 (Reuters) - European shares extended gains to hit an intraday high on Thursday, getting a fresh boost from stronger-than-expected U.S. housing data.
Contracts to buy previously owned U.S. homes rose more than expected in October, a sign the housing market recovery advanced into the fourth quarter despite a mammoth storm and concerns over looming tax hikes.
The FTSEurofirst 300 index was up by more than 1 percent to 1,120.68 points in early afternoon trade, a fresh intraday high. The index later edged back to trade up by 0.9 percent at 1,119.25 points by 1508 GMT.
The STOXX 600 European basic resources sector, which includes mining stocks, was the top-performing European equity sector as it rose by 2.2 percent, while the STOXX 600 European bank sector rose by 1.5 percent.
- Tweet this
- Share this
- Digg this
- Arsenal must now beat Galatasaray, says Cazorla
- UK economy picks up in second quarter, recovery pace revised higher
- UK house prices fall for first time in 17 months - Nationwide
- Hong Kong protesters stockpile supplies, fear fresh police advance |
- Analysis - Ukraine leader clings to European goal despite Putin