European shares hit 4-week high; miners advance

LONDON, April 6 (Reuters) – European shares edged higher to
hit a four-week high on Wednesday as growing optimism about a
global economic recovery improved sentiment, while miners
advanced on hopes demand for raw materials will improve.

At 0705 GMT, the FTSEurofirst 300 (.FTEU3: Quote, Profile, Research) index of top
European shares was up 0.1 percent at 1,145.09 points after
touching 1,146.24, the highest since March 9.
“Optimism continues to rule even though there are still
quite a bit of clear and present dangers. Portugal needs to find
some financing fast, but the good news is that the worries for
Greece, Ireland and Portugal are not hurting Spain,” said
Philippe Gijsels, analyst at BNP Paribas Fortis Global Markets.

“The market will continue to be well supported as long as
the U.S. Federal Reserve continues to put liquidity into the
system. Only when the Fed stops printing, we will be able to see
the real strength of the economy and markets. And then markets
may be disappointed.”

Miners were among the top gainers, with the STOXX Europe 600
Basic Materials index (.SXPP: Quote, Profile, Research) rising 0.6 percent and Vedanta
(VED.L: Quote, Profile, Research) gaining 2 percent.
(Reporting by Atul Prakash)

European shares hit 4-week high; miners advance