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European shares recover, boosted by miners
May 30, 2013 / 3:37 PM / 5 years ago

European shares recover, boosted by miners

LONDON, May 30 (Reuters) - European shares advanced on Thursday, bolstered by mining stocks, as downbeat U.S. economic data reassured investors that the Federal Reserve would not scale back stimulus measures soon.

The FTSEurofirst 300 provisionally ended up 0.3 percent at 1,227.16 points, recovering some of its poise after a 1.8 percent drop on Wednesday and led by a 1.5 percent gain from mining stocks.

Data showing U.S. jobless claims rose unexpectedly in the latest week was welcomed by some investors who have been concerned that strong numbers would encourage the Fed to ease off on quantitative easing (QE) sooner than had been expected.

“We haven’t had particularly good figures today which might have calmed everyone’s nerves again... we’re back into the (theme where) bad figures are good for the market, because it means QE will stick around,” Mark Priest, trader at ETX Capital, said.

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