MILAN Feb 10 European shares were poised to end
the week higher and rose to within striking distance of last
month's peaks as healthy earnings, continued strength in the
mining sector and corporate deal-making kept investors hooked.
The pan-European STOXX 600 index rose 0.3 percent
to its highest level since Jan. 26, while UK's FTSE and
Germany's DAX both climbed 0.5 percent.
The STOXX 600 Basic Resources index rose 1.9
percent, topping sectoral gainers, as copper was supported by
supply concerns and Chinese trade data that underscored stronger
demand prospects for the metal.
The index was also lifted by ArcelorMittal shares,
which rose 3.7 percent after the world's largest steelmaker
posted a higher-than-expected quarterly core profit.
Top STOXX gainer was mining and smelting firm Boliden
, up 5.5 percent, after its quarterly profit beat
estimates. On the downside, Just Eat tumbled 6.2 percent
after CEO David Buttress unexpectedly stepped down.
Reckitt Benckiser rose 1.5 percent after unveiling a
deal to buy U.S. infant formula maker Mead Johnson Nutrition for
$16.6 billion, its biggest deal ever.
(Reporting by Danilo Masoni, Editing by Vikram Subhedar)