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Euro shares get a boost from US data

Tuesday, September 25 16:54:59

European shares rose today after upbeat data from the power house U.S. economy lifted sentiment on the outlook for global growth in the run up to the third-quarter earnings season.

The FTSEurofirst 300 provisionally closed up 4.06 points, or 0.4 percent, at 1,119.82.

The FTSEurofirst gained in tandem with U.S. indexes late on Tuesday after home prices in 20 major U.S. cities rose for a sixth consecutive month and consumer confidence jumped to its highest level in seven months in September.

"Growth is the final piece of the jigsaw to enable equities to push on," Guy Foster, head of portfolio strategy at Brewin Dolphin, said. "Expectations are modest for third-quarter earnings, so just a bit of certainty would enable us to enjoy another phase of progress in to the year end," he said.

Swedish truckmaker Volvo led index gainers after announcing plans to cut costs and boost sales in emerging markets.