European shares extend ECB-led rally
LONDON Oct 23 (Reuters) - European shares climbed higher on Friday, extending a rally from the previous session, as investors speculated on further monetary support in future from the European Central Bank (ECB).
The pan-European FTSEurofirst 300 index rose 0.7 percent, building on a 2.1 percent gain in the previous session, while the euro zone's blue-chip Euro STOXX 50 index advanced by 0.9 percent.
Shares in Norwegian insurer Gjensidige surged 11.2 percent after the company reported third-quarter profits ahead of market expectations.
Home appliances maker Electrolux also gained 3.8 percent after the company reported third quarter earnings that beat market expectations.
However, Ericsson fell 4.3 percent after it posted third-quarter revenue and profits below market expectations. (Reporting by Sudip Kar-Gupta; Editing by Atul Prakash)
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