Thursday 29 September 2016

London Stock Exchange rally helps European shares hit 1-month high

Published 01/03/2016 | 08:48

REUTERS/Toby Melville/Files
REUTERS/Toby Melville/Files

European shares extended the previous session's gains to set a one-month high on Tuesday, with London Stock Exchange leading the market higher after Intercontinental Exchange confirmed a possible counter bid for LSE.

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Some investors also expected that downbeat data showing activity in China's manufacturing sector shrank more sharply than expected in February would prompt the authorities to announce further stimulus measures.

Shares in London Stock Exchange Group surged 7.5pc, leading the pan-European FTSEurofirst 300 index, which rose 0.3pc to its highest level in nearly one month after gaining 0.7pc in the previous session.

However, Barclays fell 7.3pc after the bank reported a 2pc fall in full-year adjusted pre-tax profit and unveiled plans to simplify its UK and international operations.

Reuters

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