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European shares rise early; Adecco surges

Wednesday, 6 Nov 2013 | 3:12 AM ET

PARIS, Nov 6 (Reuters) - European shares rose early on Wednesday, reversing the previous session's dip, with stocks expected to stay in tight ranges as uncertainty before a European Central Bank policy meeting kept investors on edge.

Sentiment was helped by a batch of better-than-expected results. Adecco, the world's No. 1 staffing agency, reported a 61 percent jump in net profit in the third quarter and flagged an increase in demand for temporary staff in Europe.

At 0807 GMT, the FTSEurofirst 300 index of top European shares was up 0.3 percent at 1,295.51 points, while the euro zone's blue-chip Euro STOXX 50 index was up 0.3 percent at 3,044.78 points.

Investors will closely watch the blue-chip benchmark, which has been stuck for a week below a major resistance level at 3,077.24, representing a peak hit in early 2011 and above which the index would hit five-year highs.

"A lot of automatic buy orders have been placed just above the level, so if the index manages to pierce above it, we could have an acceleration on the upside," a Paris-based equity and exchange-traded fund (ETF) trader said.

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