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European shares rise on emerging market boost

Source : REUTERS
Last Updated: Thu, Nov 22, 2012 22:10 hrs

LONDON, Nov 22 (Reuters) - European shares rose for a fourth consecutive session in thin volume on Thursday as strong Chinese data boosted mining stocks and robust demand in emerging markets lifted SABMiller.

Basic resources stocks were among the top gainers, up 0.8 percent, after a Chinese private manufacturing index hit a 13-month high, raising expectations of stronger demand from the world's largest consumer of metals.

"Any time you get positive data out of China and potential for sustained demand, the natural thing is to pick up some mining stocks," Oliver Stansfied, director of equity sales at Fox Davies.

The pan-European FTSEurofirst 300 index provisionally closed 0.6 percent higher at 1,103.84 points and was up 3.4 percent since last Friday, the best weekly performance since February.

SABMiller topped the index, rising 6.9 percent in brisk volume after the world's second-biggest brewer reported strong growth in Africa and Latin America, which it expects to continue.



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