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European shares extend rally

Tuesday, August 19 08:18:30

European shares rose in early trading on Tuesday, adding to the previous session's rally, led by Moller-Maersk's sharp gains following forecast-beating results.

Shares in the Danish shipping and oil group rose 5 percent after it posted better-than-expected results, raised its full-year profit outlook and unveiled a $1 billion share buyback plan.

At 0706 GMT, the FTSEurofirst 300 index of top European shares was up 0.3 percent at 1,343.43 points, extending the previous session's 1.2 percent rise and tracking solid gains on Wall Street as investors' concerns over the Ukrainian crisis eased.

Ukrainian government forces reported new successes overnight, building on a weekend breakthrough when troops raised the national flag in Luhansk, a city held by pro-Russian separatists since fighting began in April. (Reuters)

For more visit: www.businessworld.ie