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CORRECTED-European shares led higher by EADS

Source : REUTERS
Last Updated: Thu, Dec 06, 2012 14:30 hrs

(Corrects throughout to remove references to Nokia, which is not trading on Thursday)

LONDON, Dec 6 (Reuters) - European shares climbed higher on Thursday, helped by gains at Europe's leading aerospace firm EADS after it finalised the overhaul of its shareholder pact.

The stock was up nearly 7 percent in heavy volume that was already at its 90-day daily average after less than an hour of trade. EADS announced the deal after the close on Wednesday.

The pan-European FTSEurofirst 300 index, which reached a 2012 high of 1,128.65 points earlier this week, rose 0.2 percent to 1,126.53 points. The euro zone's blue-chip Euro STOXX 50 also rose 0.2 percent, to 2,595.69 points.

The Euro STOXX 50 tested its year high on Wednesday, a peak at 2,611 points hit in March, before retreating, while Germany's DAX, France's CAC 40 and the FTSEurofirst 300 have also all hit year highs this week.

However, Central Markets senior broker Joe Neighbour said he would still look to sell into any rallies, due to uncertainty over U.S. budget talks and with some key indexes failing to advance much beyond key peak levels.

Neighbour said he would look to sell the DAX while it remained below the 7,500 point level, and the Euro STOXX 50 while that stayed below the 2,635 point level.

"We still feel that while we're treading beneath those highs, we would still sell on strength," he said. (Reporting by Sudip Kar-Gupta, editing by Simon Jessop and Nigel Stephenson)



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