LONDON, July 27 European shares extended gains
in afternoon trade on Tuesday, led higher by banks, after
figures showed U.S. single-family home prices rose more than
expected in May.
The 20-city composite price index of Standard & Poor's/Case
Shiller rose 0.5 percent on a seasonally adjusted basis in May
after an upwardly revised 0.6 percent gain in April, topping the
0.2 percent rise forecast in a Reuters poll. [ID:nNLLRIE6A8]
At 1310 GMT, the FTSEurofirst 300 .FTEU3 index of top
European shares was up 1.1 percent at 1,060.64 -- it's highest
in five weeks.
Financial stocks were among the top gainers, with the STOXX
Europe 600 banking index .SX7P rising 4.8 percent. UBS
UBSN.VX surged 10.4 percent after strong results, while
Barclays (BARC.L) rose 8.3 percent.
(Reporting by Atul Prakash)