LONDON, Nov 22 (Reuters) - European shares advanced for a
fourth straight session to touch a one-week high on Thursday,
with encouraging data from China, showing further signs of
recovery in the world's second-biggest economy, boosting
The China HSBC Flash Manufacturing Purchasing Managers
Index, which largely reflects the private manufacturing sector,
hit a 13-month high of 50.4 in November. It followed data on
Wednesday showing U.S. manufacturing picked up at its quickest
pace in five months in November.
"There have been a lot of concerns regarding the outlook for
global growth. In this context, any improvement in Chinese data
is welcome, given that investors are still risk averse, which is
reflected in valuations," Robert Parkes, equity strategist, HSBC
"It also highlights that there are risks in having a purely
defensive portfolio at this point in time."
At 0806 GMT, the FTSEurofirst 300 index of top
European shares was up 0.3 percent at 1,100.16 points after
rising 0.3 percent in the previous session.
Sectors more sensitive to economic growth were among the top
gainers, with autos rising 0.6 percent and miners
up 0.5 percent.
SABMiller, the world's second-biggest brewer, rose
4.7 percent after posting a 12 percent rise in first half