European shares extend rally driven by commodities stocks

miércoles 7 de octubre de 2015 10:19 GYT

* Pan-European FTSEurofirst 300 index up 1 pct

* Mining and energy shares among top gainers

* SABMiller pares gains as new InBev offer rejected

* Airlines down on stronger crude oil prices

By Danilo Masoni

MILAN, Oct 7 (Reuters) - European shares rose for a fourth straight session to a one-month high on Wednesday, with commodities stocks adding steam to a rally based on expectations of central bank help.

The pan-European FTSEurofirst 300 index was up 1.1 percent to its highest since early September. The euro zone's blue-chip Euro STOXX 50 also climbed 1 percent.

Some investors said fundamentals were not driving the rally, which appeared to shrug off weak economic data, but loose monetary policies would probably help it continue.

"The macro picture gives no reason to either buy or sell stocks, but given the low bond yields, there are few investment alternatives to equities," said Riccardo Ambrosetti, chairman of Italy's Ambrosetti Asset Management.   Continuación...