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European stocks extend gains as U.S. shares rise

Wed Feb 13, 2008 8:18pm IST
 
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PARIS, Feb 13 (Reuters) - European stocks added to gains on Wednesday afternoon, tracking a rise in U.S. shares at the start of trade on Wall Street after retail sales data eased worries over the outlook for consumer spending.

At 1440 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,337.39 points, having risen by as much as 0.6 percent earlier.

The Dow Jones industrial average .DJI was up 0.7 percent, the Standard & Poor's 500 Index .SPX was up 0.7 percent, and the Nasdaq Composite Index .IXIC was up 1 percent.

According to a U.S. Commerce Department report, sales at U.S. retailers rose by a stronger-than-expected 0.3 percent in January, which was an unexpected pickup that partly reflected stronger sales of new cars and gasoline.

January's sales increase followed a 0.4 percent decline in December and trumped Wall Street analysts' forecasts for a 0.2 percent decline.

(Reporting by Blaise Robinson)

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