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Miners lead European shares higher on stimulus expectations

Source : REUTERS
Last Updated: Thu, Apr 25, 2013 15:40 hrs

LONDON, April 25 (Reuters) - Demand for equities remained robust as Europe's top shares rose for the fifth straight session on Thursday, supported by central bank stimulus and boosted by results and M&A speculation.

The FTSEurofirst 300 provisionally closed up 7.89 points, or 0.7 percent, to 1,199.71, heading back towards five-year highs of 1,207 seen in March.

Recent weak global economic data including Spain's record high jobless figures on Thursday has sparked expectations of more stimulus from central banks.

"Overall investors see the potential for new measures and the distortion of global valuations as a reason to hold dogmatically on to their equities," Guy Foster, head of portfolio strategy at Brewin Dolphin, said.

"Shares are seen as a yield asset class with risks skewed to the upside. Bonds have lost their appeal for the opposite reason," he said.

The prospect of more efforts to boost growth helped miners , which rose 2.4 percent tracking higher commodity prices.

Kazakh-focused miner Kazkhmys rallied 4.2 percent after first-quarter copper output rose almost 12 percent year-on-year.

The sector remains down about 15 percent so far this year as broader concerns over profits, costs and demand from China weigh on the sector.




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