Nokia, miners help European shares reach new 14-year high

miércoles 15 de abril de 2015 05:27 GYT
 

* FTSEurofirst 300 index up 0.8 pct

* Miners up on China stimulus hopes

* Nokia gains after deal, Alcatel-Lucent slips

By Atul Prakash

LONDON, April 15 (Reuters) - European shares touched a new 14-year high on Wednesday, with Nokia gaining after agreeing to buy rival telecom equipment maker Alcatel-Lucent , and firmer oil and metals prices boosting energy and mining stocks.

The STOXX Europe 600 Oil and Gas index rose rose 1.8 percent after Brent crude rose by a dollar on signs of a dip in U.S. production. Shares in Royal Dutch Shell, Tullow Oil and BP rose 0.8 to 2.4 percent.

Miners also climbed after data showing China grew at its slowest pace in six years at the start of 2015 raised hopes of fresh stimulus measures in the world's biggest metals consumer. The mining index, up 2.4 percent, was the top sectoral gainer.

Data for March showed that Chinese retail sales, industrial output and fixed-asset investment data all missed analyst expectations. Growth in fixed-asset investment, a key driver of the world's second-biggest economy, was the slowest since 2000, while industrial output grew at its weakest since the global financial crisis in 2008.

"Some indicators show that the underlying weakness in the Chinese economy is quite pronounced and it may keep alive the speculation of broader stimulus measures down the road," Gerhard Schwarz, head of equity strategy at Baader Bank in Munich, said.   Continuación...