Europe shares extend gains; banks, miners advance

Thu Aug 13, 2009 5:08am EDT
 
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LONDON, Aug 13 (Reuters) - European shares extended gains in morning trade on Thursday, led higher by financials and miners, with investors snapping stocks after data showing Germany and France surprisingly returned to economic growth.

At 0906 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 1.1 percent at 952.09 points. The index, which slumped 45 percent in 2008, has gained 14 percent this year and is up 47 percent since a lifetime low in early March.

Financial shares were among top gainers in Europe, with Standard Chartered (STAN.L), Barclays (BARC.L), Lloyds (LLOY.L), Royal Bank of Scotland (RBS.L), BNP Paribas (BNPP.PA) and Societe Generale (SOGN.PA) gaining 1.2-3.9 percent.

Following the German and French GDP, the euro zone economy showed it shrank less than expected in the second quarter, adding to signs that the worst of the recession could be over. [ID:nLD440556] (Reporting by Atul Prakash)

 

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