European shares rise sharply to six year high
European shares rose on Tuesday, with a key regional index making fresh six-year highs, as a rally in U.S. shares and upbeat updates from blue-chips such as steelmaker ThyssenKrupp supported risk appetite.
The pan-European FTSEurofirst 300 index was up 0.2 percent at 1,367.60 points, its highest level since May 2008. Britain’s FTSE was up 0.2 percent after briefly hitting its highest point in roughly a year.
Shares in Germany’s ThyssenKrupp rose 4 percent as the firm raised its full-year earnings outlook. Airbus Group added 4.3 percent as the Aerospace group posted a narrower-than-expected drop in core earnings and reaffirmed its financial goals for the year.
The Dow and the S&P 500 closed at record highs on Monday and the Nasdaq rallied as shares of Internet and biotech companies advanced. Investors were set to focus on the ZEW monthly poll of German investor and analyst sentiment, due at 0900 GMT.
“We are still slightly long going into the ZEW, as sentiment for stocks has markedly improved over the last couple of days,” Markus Huber, a senior sales trader at Peregrine & Black, said.