LONDON, March 26 European shares rose in early
deals on Wednesday, benefitting from increased optimism over the
global economy after stronger U.S. data helped allay fears about
the pace of recovery there.
The pan-European FTSEurofirst 300 gained 0.2
percent to 1,313.54 points at 0803 GMT, led by insurer Legal &
General, up 2.1 percent after a contract win.
Stock markets in Europe broadly tracked gains made in Asian
and U.S. trade, where buoyant U.S. consumer confidence and house
prices helped to fuel gains.
The two reports were the latest in a series of positive data
releases from the United States, supporting the view that bad
weather rather than inherent economic weakness affected weaker
reports earlier this year.
"Concerns around the three C's (cold, Crimea, China) are
dropping off as the effect of the US winter subsides, the
Crimean conflict is no longer affecting markets and China has
seen stimulation bets ramping up," Evan Lucas, market strategist
at IG, said in a note.
"This will mean markets will continue to push higher in the
short term, with the US and China currently driving most market
reactions; and signs of stability or growth will be equity and
Growing bets that China will act to stimulate its economy
and an increased resilience to uncertainty over relations
between Russia and the West over Crimea helped to support
European equity markets on Tuesday.
The FTSEurofirst 300 rose 1.3 percent in the previous
session, bouncing off a one-week closing low set at the start of
(Reporting by Alistair Smout; editing by Simon Jessop)