European shares rally as Yellen reassures

martes 11 de febrero de 2014 13:44 GYT

* FTSEurofirst 300 up 1.3 pct, Euro STOXX 50 up 1.5 pct

* Fed chair's comments on job market, stimulus cuts reassure

* L'Oreal sinks as stake buyback impact disappoints

By Blaise Robinson

PARIS, Feb 11 (Reuters) - European stocks rose on Tuesday, boosted by positive corporate results and as new Federal Reserve Chair Janet Yellen emphasized there would be continuity in the U.S. central bank's strategy.

In her first public comments as Fed chief, Yellen said the Fed was on track to keep trimming stimulus but acknowledged the labour market recovery was "far from complete." She made clear there would be no abrupt changes to monetary policy.

"Yellen is in line with (previous Fed chair Ben) Bernanke's approach. It brings visibility on the Fed's action, we now know where they are going. This is quite reassuring for investors," said David Thebault, head of quantitative sales trading at Global Equities.

"The lights are turning 'green' again, and investors are coming back to equities."   Continuación...