LONDON Nov 21 European stocks chalked up a
third straight session of gains on Wednesday as buyers snapped
up recent laggards and positioned for a positive outcome to
negotiations over aid to Greece.
Shares in telecoms group KPN bounced 6.5 percent
from a 10-year low in volume twice the 90-day average, boosted
by trader speculation about consolidation in the German telecoms
It was the top riser on the pan-European FTSEurofirst 300
index, which provisionally ended 0.3 percent higher at
1,097.69 points, albeit in thin volume as Thursday's
Thanksgiving market holiday in the United States approached.
European shares turned higher in mid-morning trade on signs
politicians were stepping up efforts to reach a deal to unlock
financial help for debt-stricken Greece.
"Our assumptions over the next six months is, on any
significant pullback, to buy Europe," Bill O'Neill, chief
investment officer for Europe, the Middle East and Africa at
Merrill Lynch Wealth Management, said.
"I can see 12-15 percent total returns for European equities
next year, but that of course depends on nothing untoward
happening in the euro zone and the integration process