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European shares rise on Cyprus bank sale report
March 20, 2013 / 12:21 PM / 5 years ago

European shares rise on Cyprus bank sale report

LONDON, March 20 (Reuters) - European shares extended gains on Wednesday, with traders citing Greek media reports that Cyprus had reached a deal with Russia on the sale of Cyprus Popular Bank to Russian investors as the reason for the rise.

The pan-European FTSEurofirst 300 index rose as much as 0.6 percent to a new intraday high of 1,201.91 points, before edging back to trade up 0.5 percent at 1,201.42 points by 1217 GMT.

European bank stocks were among the main risers, with the STOXX Europe 600 Banking Index up 1.3 percent.

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