LONDON Oct 28 European shares advanced on
Monday, with a new record high for a key U.S. index on strong
earnings and expectations of the U.S. Federal Reserve continuing
its stimulus for longer, boosting investor sentiment.
The Standard & Poor's 500 index rose 0.4 percent on
Friday to set a new life-time high following encouraging results
from Microsoft and Amazon.com, while on
Monday, Australian stocks rose more than 1 percent to a
five-year peak and Japan's Nikkei climbed 2.2 percent.
Appetite for riskier assets also rose on expectations the
Fed will not start trimming its bond buying programme until the
first quarter of 2014 because of recent weak data. Friday's
numbers showed orders for U.S. manufactured goods fell in
September, while consumer sentiment fell in October.
At 0806 GMT, the pan-European FTSEurofirst 300 index
was up 0.2 percent at 1,287.53 points after rising 0.6
percent last week to register a third straight week of gains. It
climbed to a five-year high last week.
Assa Abloy rose 3.6 percent, the top gainer on
the FTSEurofirst 300, after the world's biggest lock maker
posted a bigger than expected rise in third quarter operating
earnings and said it would launch a new restructuring programme