{{European shares extended their rebound on Friday from last month’s losses, helped by mining stocks, as long-term investors bet equities would continue to benefit from the region’s gradual economic recovery.}}<\/p>\n
Equity markets briefly pared gains after worse-than-expected U.S. employment data, but then swiftly recovered as traders and investors said the longer-term outlook of a slow global economic pick-up remained intact.<\/p>\n
The pan-European FTSEurofirst 300 index closed up 0.8 percent at 1,300.11 points, while the euro zone’s blue-chip Euro STOXX 50 index also advanced 0.9 percent to 3,038.49 points.<\/p>\n
Europe has shown signs of slowly recovering from the effects of the euro zone’s sovereign debt crisis from 2011-2012, and steelmaker ArcelorMittal on Friday forecast that an increase in European iron ore production would lead to higher profits this year.<\/p>\n
ArcelorMittal’s upbeat outlook boosted mining companies, with the STOXX Europe 600 Basic Resources Index – which contains major mining stocks – outperforming the broader market rise with a 1.6 percent gain.<\/p>\n
According to Thomson Reuters analysis, out of the 70 companies on the pan-European STOXX 600 index to have reported fourth-quarter earnings so far, 51 percent have posted earnings above analyst estimates.<\/p>\n
reuters<\/p>\n","protected":false},"excerpt":{"rendered":"
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