Europe Shares Close at 1-Week High
European shares extended gains to close sharply higher on Wednesday, with investor sentiment boosted by U.S. stocks reaching record highs, and a successful Italian bond auction. The pan-European FTSEurofirst 300 Index closed provisionally up 1.8 percent at 1,186.62 points, the highest close since April 3 and the biggest one-day gain in a month.
European markets
| TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|
| .FTSE | FTSE 100 | 8,317.59 | -21.64 | -0.26% |
| .GDAXI | DAX | 18,693.37 | +2.05 | +0.01% |
| .FCHI | CAC 40 Index | 8,094.97 | -7.36 | -0.09% |
| .FTMIB | FTSE MIB | 34,490.71 | +23.04 | +0.07% |
| .IBEX | IBEX 35 Idx | 11,246.00 | -65.10 | -0.58% |
In the U.S., the set an all-time high, boosted by upbeat economic news from China and the Federal Reserve's latest meeting minutes.
(Read More: Market Melt-Up Destroying Shorts)
Minutes from March's Fed meeting suggested some policymakers see asset purchases slowing by mid-2013, before ending later in the year. Under its current quantitative easing program, the Fed purchases $85 billion in Treasurys and mortgage-backed securities each month.
Cyclical sectors performed best on Wednesday, with investors in risk-on mode. Banks were the top performers, with the European sector index closing provisionally up 3.7 percent.