European Shares at Six-Year High

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European Shares Year High

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European stocks advanced to a new six-year high on Tuesday.

European stocks advanced to a new six-year high on Tuesday, boosted by strong gains in Asian markets, while UK retailers including Tesco and Sainsbury were underpinned by robust retail sales data.

By 0815 GMT, the pan-European FTSEurofirst 300 index was 0.3 percent stronger at 1,542.2, a new six-year high, extending a three-day winning run.

Reports from European companies however disappointed, with BP down 1 percent after the company lowered its production growth targets, while telecoms firm KPN followed its peers in reporting weaker-than-expected results.

Results from U.S. companies are in focus, while comments from U.S. Federal Reserve officials including Chairman Ben Bernanke will be studied for clues on the likely path for U.S. interest rates.

Reuters

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