LONDON Jan 11 European shares edged higher on
Friday, consolidating close to 2-year highs, led by gains in the
The FTSEurofirst 300 index of top European shares
rose 0.1 percent to 1,165.70 points, flirting with a high of
1,170.29 points hit in the previous session, a level not seen
since March 2011.
The STOXX Europe 600 Technology sector led sectoral
gainers, up 1.2 percent, helped by a near 4 percent gain for
Nokia, which extended gains from the previous session
when it had unveiled strong sales of its Lumia smartphones.
Data also showed continued money coming into equities from
other asset classes.
Over the four business days to Jan. 8, equity mutual funds
took in $6.8 billion, with equity flows exceeding bond flows,
EPFR data showed, as central bank easy money policies depressed
bond yields and pushed investors towards equities.
"People are starting to come back to the stock market
because they don't have any other option," Edward Page Croft,
managing director at Stockopedia.
"Equities are very overdue a rest but that shouldn't make
people through in the towel in my opinion (as) they will
continue to be supported by central banks very accommodative