GO
Loading...

European shares rise after World Bank forecast

Wednesday, 15 Jan 2014 | 3:11 AM ET

PARIS, Jan 15 (Reuters) - European stocks rose in early trade on Wednesday, with a key benchmark hitting a 5-1/2 year high, mirroring gains on Wall Street and in Asia on renewed hopes for global growth.

Boosting sentiment, the World Bank raised its forecast for growth for the first time in three years, signalling the world economy is finally pulling out of a long and sluggish recovery that followed the global financial crisis.

At 0804 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,329.07 points, a level not seen since mid-2008.

Cyclical mining shares featured among the top gainers, with Anglo American up 1.8 percent and Rio Tinto up 1 percent.

Shares in Burberry surged 5.9 percent after the British luxury brand posted robust Christmas sales.