KPN leads as European shares rise for 3rd session

LONDON Wed Nov 21, 2012 10:12pm IST

LONDON Nov 21 (Reuters) - European stocks chalked up a third straight session of gains on Wednesday as buyers snapped up recent laggards and positioned for a positive outcome to negotiations over aid to Greece.

Shares in telecoms group KPN bounced 6.5 percent from a 10-year low in volume twice the 90-day average, boosted by trader speculation about consolidation in the German telecoms sector.

It was the top riser on the pan-European FTSEurofirst 300 index, which provisionally ended 0.3 percent higher at 1,097.69 points, albeit in thin volume as Thursday's Thanksgiving market holiday in the United States approached.

European shares turned higher in mid-morning trade on signs politicians were stepping up efforts to reach a deal to unlock financial help for debt-stricken Greece.

"Our assumptions over the next six months is, on any significant pullback, to buy Europe," Bill O'Neill, chief investment officer for Europe, the Middle East and Africa at Merrill Lynch Wealth Management, said.

"I can see 12-15 percent total returns for European equities next year, but that of course depends on nothing untoward happening in the euro zone and the integration process continuing."

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Barack Obama in India

Reuters Showcase

Coal Mining

Coal Mining

India to open coal to commercial mining firms soon, minister says  Full Article 

RBI Loan Rules

RBI Loan Rules

RBI relaxes overseas loan recast rules   Full Article 

E-commerce Firms

E-commerce Firms

Amazon, e-commerce rivals fuel commercial property boom in India  Full Article 

Growth Forecasts

Growth Forecasts

Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll.  Full Article 

Uber is Back

Uber is Back

Uber back in Delhi; govt says must await approval.  Full Article 

Markets at Record

Markets at Record

Sensex rises to record after ECB stimulus programme.  Full Article 

Pharma Sector

Pharma Sector

Ipca Labs hit by FDA ban on plant for standard violations.  Full Article | Related Story 

Forex Reserves

Forex Reserves

India FX reserves at record high as RBI fortifies defences  Full Article 

QE for Euro Zone

QE for Euro Zone

ECB launches 1 trillion euro rescue plan to revive euro economy.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage