European shares end off highs as Yellen points to Dec hike

miércoles 4 de noviembre de 2015 13:34 GYT

(Adds details, closing prices)

* FTSEurofirst 300 up 0.5 pct, DAX down 1 pct

* VW, Porsche fall more than 8 pct

* Miners rally, led higher by Glencore

By Danilo Masoni

MILAN, Nov 4 (Reuters) - European shares closed off their highs on Wednesday after Federal Reserve Chair Janet Yellen said a rate hike in December was a live possibility, while Germany's blue-chip index underperformed after a scandal at carmaker Volkswagen widened.

The FTSEurofirst 300 rose 0.46 percent after earlier gaining as much as 1.1 percent on the back of a fresh pledge from the European Central Bank to ramp up stimulus if necessary, while Germany's DAX was down 0.97 percent.

In comments to Congress that followed the release of strong U.S. services sector data, Yellen said the economy was performing well and that the Fed would still take a gradualist approach to raising rates once the first step is taken.

"What goes on with central banks continues to drive markets," said Jerome Schupp, head of research at SYZ Asset Management in Geneva, adding that it was difficult to be too optimistic about equities by only looking at the economic fundamentals and the mixed corporate earnings picture.   Continuación...