European shares extend rally; miners advance

LONDON, Nov 5 (BestGrowthStock) – European shares hit their highest
in more than six months for a third straight session on Friday
ahead of key U.S. jobs data, with firm metals prices following
the Federal Reserve’s stimulus measures boosting mining shares.

At 0806 GMT, the FTSEurofirst 300 (.FTEU3: ) index of top
European shares was up 0.3 percent at 1,110.25 points after
surging 1.7 percent in the previous session on the Fed’s
decision to buy $600 billion in government bonds to support the
U.S. economy.

Investors eagerly awaited U.S. employment report for
October, due at 1230 GMT, which is expected to show a slight
rise in jobs for the first time since May. The data will be
scrutinised for signals about the sustainability of the rally
following the U.S. central bank’s move.

“You can’t ignore momentum, which just seems to be one way
at the moment,” said Mike Lenhoff, chief strategist at Brewin
Dolphin.

“The bad news could be ignored in the short term. The view
is that here is a central bank that is prepared once again to
ensure that the economy does not relapse into recession.”

Miners features among the top gainers, with BHP Billiton
(BLT.L: ), Anglo American (AAL.L: ), Antofagasta (ANTO.L: ), Rio Tinto
(RIO.L: ), Xstrata (XTA.L: ) and Eurasian Natural Resources (ENRC.L: )
rising 0.8 to 2.9 percent.
(Reporting by Atul Prakash)

European shares extend rally; miners advance