Europe: Germany's Dax set for 9th weekly gains as European shares rise

[LONDON] European shares edged up at the open on Friday, setting up Germany's Dax index for its longest streak of weekly gains since 1998, as traders added to their bets on an economic recovery in Europe.

Sectors which are exposed to the domestic economy and the euro, which hit a 12-year low against the dollar this week, led gains. Automakers, travel & leisure and real estate were all up 0.6-0.7 per cent at 0813 GMT.

The pan-European FTSEurofirst 300 index was up 0.1 per cent at 1,575.89 points.

The DAX was set for its ninth consecutive weekly gain, the longest winning streak in 17 years.

The FTSE, however, was down 2.2 per cent from last Friday's close.

REUTERS