LONDON Jan 17 European sales closed higher on
Thursday as encouraging sales figures from retailers Carrefour
and Associated British Foods helped offset
losses in the mining sector.
Corporate updates were the main driver on Thursday, with AB
Foods, owner of discount retailer Primark, and supermarket
Carrefour rising 5.5 percent and 3.3 percent, respectively, in
brisk volume after they reported reassuring figures for the end
They helped counter a 0.7 percent fall for heavyweight
miner Rio Tinto, which recorded a $14 billion writedown.
"Investors are starting to judge stocks based on their
fundamentals, as opposed to macro factors," Mark Buchanan,
director of trading strategy at Credit Suisse, said.
The pan-European FTSEurofirst 300 index
provisionally closed 0.4 percent higher at 1,164.69 points,
stuck in the 1 percent range that has trapped it for the past
week, as the index consolidated 22-month highs.