LONDON Nov 15 European stocks edged higher on
Friday, building on the previous session's strong gains on
expectations of continued U.S. Federal Reserve stimulus and
cheered by some solid corporate reports.
Among the top gainers, Vivendi rose 2.5 percent
after beating quarterly profit forecasts and saying it was
progressing with its plan to hive off its largest business,
France's No. 2 telecom operator SFR.
The FTSEurofirst 300 was up 0.3 percent at 1,297.53 points
by 0804 GMT after posting its biggest one-day gain in
over a month on Thursday, when the designated head of the U.S.
Federal Reserve, Janet Yellen, robustly defended the central
bank's bold steps to spur economic growth.
The comments from Yellen, who would take over at the end of
January if her nomination is confirmed, boosted expectations
that the central bank will hold off past the turn of the year
with any move to rein in economic stimulus.
"The Yellen-inspired risk-on theme looks likely to prevail,"
said Ioan Smith, strategist at Knight Capital Group.
"One thing we should also be mindful of, though, is that a
lot of people will start closing books into year end at the end
of this month. If you've got decent outperformance no point
chasing here for some small gains so momentum may start to wane
as we get closer to Nov. 30."