Miners help European shares to hit 2-week high

martes 17 de mayo de 2016 04:33 GYT
 

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* FTSEurofirst 300 index rises 1 pct

* Miners feature among top gainers

* Taylor Wimpey surges after update

By Atul Prakash

LONDON, May 17 (Reuters) - European shares hit a two-week high on Tuesday, with companies such as Taylor Wimpey and Vodafone gaining after their encouraging updates and miners tracking a rally in major industrial metals.

The pan-European FTSEurofirst 300 was up 1 percent at 1,328.96 points by 0814 GMT after rising to 1,331.51, the highest since early May. However, the index, which closed flat in the previous session, is still down 7.5 percent this year.

Miners were the top sectoral gainers, with the STOXX Europe 600 Basic Resources index rising 2.4 percent following a rise in major base metals such as copper and aluminium. Shares in Anglo American, Glencore and BHP Billiton were up 3.7 to 5.9 percent.

"Markets are once again up on higher commodity prices. Nevertheless, we should not get carried away and chase the commodity complex higher as most of these markets are still very much over-supplied," Philippe Gijsels, head of research at BNP Paribas Fortis, said.   Continuación...