LONDON Nov 28 European shares recovered to
close slightly higher on Wednesday on expectations that U.S.
lawmakers would be able to avert the so-called "fiscal cliff" of
scheduled tax rises and spending cuts from 2013.
U.S. House Speaker John Boehner voiced optimism that
Republicans could broker an agreement with the White House to
avoid the fiscal crisis, saying that Republicans were willing to
put revenues on the table if Democrats agreed to spending cuts.
His comments came a day after U.S. Senate Majority Leader
Harry Reid said he was disappointed there had been "little
progress" among Democrat and Republican lawmakers on the
"Just 24 hours ago there was a feeling that Democrats and
Republicans were a lot further apart. Now it seems they are
really willing to cut a deal on (the fiscal cliff) and get it
right for the United States," Angus Campbell, head of market
analysis at Capital Spreads, said.
"There is a degree of optimism that a deal will be reached
before the year end."
The FTSEurofirst 300 index of top European shares
provisionally closed 0.2 percent higher at 1,109.33 points after
falling to a low of 1,100.79 earlier in the session.