European shares hit 3-month high on positive company updates

martes 19 de abril de 2016 04:38 GYT

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details)

* FTSEurofirst 300 index rises 1.3 pct

* L'Oreal gains after positive update

* Miners hit highest since November

By Atul Prakash

LONDON, April 19 (Reuters) - European equities climbed to a three-month high on Tuesday, with a rally in commodities-related stocks and encouraging updates from companies such as French cosmetics firm L'Oreal and advertising group Publicis .

L'Oreal rose 5.5 percent as it 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.

At 0820 GMT, the pan-European FTSEurofirst 300 index was up 1.3 percent at 1,372.70 points after touching 1,374.88, its highest level since early January.

The European basic resources index rose 2.5 percent to its highest since November, with sentiment improving after Rio Tinto reported an 11 percent rise in first quarter iron ore shipments.   Continuación...