PARIS Nov 30 European stocks ended almost
unchanged on Friday, posting solid monthly gains as investors
bet the worst of Europe's debt crisis is over and that a deal in
U.S. budget talks will be reached before the year-end.
The FTSEurofirst 300 index of top European shares
ended 0.08 percent lower at 1,120.89 points, after hitting a
high of 1,125.12 during the session, a level not seen since July
The index posted a gain of 2.2 percent for November, its
sixth straight positive month - the index's longest run of
successive monthly gains in eight years.
"There's been a strong reversal in sentiment," said Marc
Renaud, chief executive officer of Mandarine Gestion, which has
1.45 billion euros ($1.89 billion) in assets under management.
"We're now seeing inflows into equities, albeit still
modest, and the volatility has tumbled to levels not seen since
the start of the financial crisis. We can finally do our job as
Shares in LVMH, the world's biggest luxury goods
maker, was the top blue-chip performer, up 1.3 percent after
Goldman Sachs upgraded its recommendation on the stock to 'buy',
forecasting an improvement in demand from China.
France Telecom was the biggest loser among major
companies, down 1.9 percent as speculation swirled of an
imminent shake-up of the STOXX Europe 50 from which
the telecom operator could be dropped.