LONDON Feb 28 European shares rose on Thursday
as investors took heart from fresh signs that central banks
would continue steps to support the world economy.
The pan-European FTSEurofirst 300 index was up by
0.4 percent at 1,165.47 points while the euro zone's blue-chip
Euro STOXX 50 index advanced 0.6 percent to 2,626.55
The index continued a recovery from losses earlier this
week, caused by Italy's political deadlock.
Austrian bank Erste topped the FTSEurofirst 300
with a 3.5 percent gain after reporting that it was targeting a
stable operating profit result for 2013.
Plans by central banks to inject liquidity into markets have
propped the global economy and equity markets, and the European
Central Bank's (ECB) head Mario Draghi reiterated this week that
the ECB would continue with such measures.
However, some traders saw any further gains on equity
markets as being relatively limited, due to worries over Italy
and looming U.S. budget cuts due to kick at the start of March.
"I think markets will be choppy and rangebound this coming
month," said Central Markets chief strategist Richard Perry.
"I don't think it will break much higher, and if anything it
could break lower."