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RPT-Bunds rise, European stocks pare gains after "fiscal cliff" comments

Source : REUTERS
Last Updated: Thu, Dec 27, 2012 15:40 hrs

LONDON, Dec 27 (Reuters) - German Bund futures rose further and European stocks pared gains on Thursday after the latest comments on U.S. budget talks dampened appetite for riskier assets.

The rise in Bunds coincided with a move higher in longer-dated U.S. Treasuries after Senate leader Harry Reid said going over the fiscal cliff "looks like where we're headed".

German Bund futures were up 62 ticks at 145.39, having triggered stops above 144.99, according to one trader.

The pan-European FTSEurofirst 300 index trimmed gains following Reid's comments. The FTSEurofirst was up 0.1 percent at 1,138.59 points by 1525 GMT, having at one stage been up by as much as 0.4 percent.

But traders warned against reading too much into exagerated price moves in thin liquidity.

"Flows-wise, we have seen not much at all," a second trader said.




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