LONDON Nov 29 European shares extended gains to
hit an intraday high on Thursday, getting a fresh boost from
stronger-than-expected U.S. housing data.
Contracts to buy previously owned U.S. homes rose more than
expected in October, a sign the housing market recovery advanced
into the fourth quarter despite a mammoth storm and concerns
over looming tax hikes.
The FTSEurofirst 300 index was up by more than 1
percent to 1,120.68 points in early afternoon trade, a fresh
intraday high. The index later edged back to trade up by 0.9
percent at 1,119.25 points by 1508 GMT.
The STOXX 600 European basic resources sector, which
includes mining stocks, was the top-performing European equity
sector as it rose by 2.2 percent, while the STOXX 600 European
bank sector rose by 1.5 percent.