LONDON Dec 30 European stocks edged higher on
Monday, consolidating after two weeks of strong gains that have
pulled markets to five-year highs, with the session expected to
be quiet as it fell in the midst of a seasonal holiday period.
The pan-European FTSEurofirst 300 index was 0.34
points higher at 1,314.63, having ended up 1.1 percent at
1,314.29 points on Friday, its highest closing level since
The benchmark index, which has surged 5.3 percent since Dec.
17, is on track to post a gain of 16 percent for 2013, with just
two sessions left in the year.
Craig Erlam, market strategist at Alpari, said many
investors expected the recent strong trend to continue into
January, although near-term trade would likely be muted.
"Trading volumes are expected to remain low for most of this
week, if not all of it, with another bank holiday coming on
Wednesday. Volumes on Monday and Tuesday should be particularly
low, as traders extend their holidays from last week through to
the end of the year."