European shares hit 3-month high on positive company updates

martes 19 de abril de 2016 07:05 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)Updates prices)

* FTSEurofirst 300 index rises 1.2 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 4.7 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 1048 GMT, the pan-European FTSEurofirst 300 index was up 1.2 percent at 1,371.1 points after touching 1,374.88, its highest level since early January.

The European basic resources index rose 2 percent to its highest since November, with sentiment improving after Rio Tinto reported an 11 percent rise in first quarter iron ore shipments.   Continuación...