European stocks set new multi-year highs, InBev helps

jueves 26 de febrero de 2015 11:26 GYT
 

* FTSEurofirst 300 up 0.8 pct, hits new 7-year high

* InBev leads food and beverages stocks higher

* Royal Bank of Scotland fall after reporting losses

By Atul Prakash

LONDON, Feb 26 (Reuters) - Major European share indexes climbed to new multi-year highs on Thursday, with the world's largest brewer Anheuser-Busch InBev leading the food and beverages sector higher after announcing a sharply higher dividend and a share buyback plan.

Belgium-based InBev rose 3.2 percent after proposing a total dividend of 3.00 euros for 2014, a jump from 2.05 euros for 2013, and detailing a $1-billion share buyback plan. The STOXX Europe 600 Food and Beverages index rose 1.6 percent.

The broader stock market also got some boost from a rally in mining shares. The European basic resources index gained 1.1 percent as copper hit a six-week high after Chinese trading resumed following a break. Zinc and aluminium both rose about 1 percent.

"Industrial metals prices have probably seen the bottom. They have been in a phase of stabilisation over the last few weeks. We assume that the downside pressure on basic resources shares has come to an end for now," Christian Stocker, equity strategist at UniCredit in Munich, said.

"We like miners from a tactical point of view as margins are recovering swiftly and valuations look relatively attractive."   Continuación...