European stocks rise to fresh 3-wk closing high

Fri Nov 13, 2009 5:42pm GMT
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* FTSEurofirst 300 closes 0.4 pct higher

* Index up 2.7 pct on the week

* Richemont rises after earnings

* HSBC advances on dividend hike hopes

By Brian Gorman

LONDON, Nov 13 (Reuters) - European stocks closed higher on Friday, as upbeat earnings news from companies such as luxury goods provider Richemont (CFR.VX: Quote, Profile, Research) more than outweighed weaker-than-expected U.S. consumer sentiment data.

The FTSEurofirst 300 index of top European shares rose 0.4 percent to 1,019.41 points, its highest close since Oct 21, and just 0.7 percent short of a 13-month closing high.

Over the week, the index rose 2.7 percent and is up more than 57 percent from the all-time low of March 9, as investors have seen several major economies emerge from recession.  Continued...

 
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