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Europe: Shares hit one-month high, L'Oreal leads

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European equities climbed to a one-month high on Tuesday, mirroring gains on Wall Street and in Asia, with a rally in commodities-related stocks and some encouraging company updates supporting the market.

[LONDON] European equities climbed to a one-month high on Tuesday, mirroring gains on Wall Street and in Asia, with a rally in commodities-related stocks and some encouraging company updates supporting the market.

At 0715 GMT, the pan-European FTSEurofirst 300 index was up 0.6 per cent after setting its highest level in more than one month.

The European basic resources index and the oil and gas index rose 2.2 per cent and 1.3 per cent respectively after key base metals held their gains from the previous session and crude oil advanced following an oil worker strike in Kuwait.

Shares in Anglo American, Glencore, Rio Tinto and BP rose 1.2 to 3.9 per cent.

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L'Oreal rose 4.6 per cent, the top gainer in the FTSEurofirst 300 index, as the French cosmetics company pledged to outperform the market in 2016 and confirmed its ambition to achieve another year of sales and profit growth after first-quarter sales rose more than expected.

REUTERS

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