European shares bounce after Yellen comments

PARIS Thu Nov 14, 2013 3:11am EST

PARIS Nov 14 (Reuters) - European stocks rose early on Thursday after dovish comments by Federal Reserve chairman-designate Janet Yellen eased worries the U.S. central bank could start winding down its stimulus measures this year.

At 0805 GMT, the FTSEurofirst 300 index of top European shares was up 0.8 percent at 1,294.23 points, after hitting a three-week low on Wednesday.

Yellen, in remarks released ahead of her closely-watched Senate confirmation hearing on Thursday, said the central bank has "more work to do" to help the economy, indicating she was in no hurry to start trimming the bank's bond-buying programme, which has fuelled an equity rally this year.

Among the biggest gainers on Thursday morning, French conglomerate Bouygues surged 7.4 percent after it posted higher third-quarter profits and reaffirmed its full-year forecasts.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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