Europe shares rise; miners gain as dollar weakens

LONDON, Oct 25 (BestGrowthStock) – European shares rose early on
Monday, led by miners on higher metals prices as a meeting of
the Group of 20 did not result in any agreement that would
arrest the trend of selling the dollar.

At 0709 GMT, the FTSEurofirst 300 (.FTEU3: ) index of top
European shares was up 0.4 percent at 1,094.29 points, after
rising 0.4 percent last week.

The dollar fell broadly on Monday after a G20 meeting
produced enough agreement despite discordant policies to keep
the status quo on the trade of selling the U.S. currency and
buying stocks and commodities such as gold.

Miners to rise included Antofagasta (ANTO.L: ), BHP Billiton
(BLT.L: ), Rio Tinto (RIO.L: ) and Xstrata (XTA.L: ), up between 2 and
2.7 percent.

Some analysts played down the importance of the G20 and
emphasised the probability that the U.S. Federal Reserve will
undertake further monetary easing.

“They (the G20) talked about competitive devaluation and
decided to have a talk about it another time,” said Philip
Isherwood, European equities strategist at Evolution Securities.

“It’s about next week in terms of QE (quantitative easing).
The Fed believes unemployment is too high and inflation is too
low. We should get QE.”

French luxury goods group LVMH (LVMH.PA: ) rose 3.5 percent
after saying on Saturday it was buying a minority stake worth
1.45 billion euros in family-controlled handbag maker Hermes
(HRMS.PA: ). Hermes rose 4.8 percent.
(Reporting by Brian Gorman)

Europe shares rise; miners gain as dollar weakens