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European shares hit 26-month high

London, December 9, 2010

European shares hit a 26-month high on Thursday on optimism the US tax cuts would boost consumption, with technology stocks boosted after ASML lifted its booking forecast.   

By 0809 GMT, the pan-European FTSEurofirst 300 index of top shares was 0.6 percent higher at 1,126.18 points.   

'Anything with good exposure to the US is obviously going to have a huge benefit, especially on the consumer side,' Ben Critchley, sales trader at IG Index, said.

Technology stocks featured among the best performers, with Dutch chip equipment maker ASML jumping 6.4 percent after it raised its forecast for fourth-quarter bookings. The company has about 23.1 percent exposure to the United States. - Reuters




Tags: consumption | European stocks | US tax cuts |

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