European shares rally, track gains in Asia and U.S.
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European shares rally, track gains in Asia and U.S.
LONDON, June 22 (Reuters) - European stocks rallied in early trade on Thursday, boosted by strong gains in Asia and Wall Street, while miners Antofagasta and BHP Billiton tracked gained in commodity prices.
Shares in Lafarge rose 3 percent as the French building materials group raised its mid-term targets and said it was considering selling its underperforming roofing business.
Germany's largest insurance group Allianz rose 2.5 percent after announcing plans to cut nearly 7,500 jobs as part of a far-reaching restructuring move designed to boost earnings.
By 0715 GMT, the pan-European FTSEurofirst 300 index was 1 percent stronger at 1,289.2 points after a flat performance on Wednesday, and up 1 percent so far this year.
Asian markets ended sharply higher, with the Nikkei average rallying 3.4 percent above 15,000, scoring its biggest one-day percentage gain since Jan. 27.
U.S. stocks rose on Wednesday, driving the Dow to a two-week high and pushing the Nasdaq up more than 1 percent, boosted by strong earnings.
Among losers, British Airways fell 3 percent and Lufthansa slipped 0.9 percent after the U.K. and U.S. launched a probe into airlines pricing.
((Reporting by Anshuman Daga
Reuters Messaging:
rm://anshuman.daga.reuters.com@reuters.net
E-mail: anshuman.daga@reuters.com
Telephone: +44 207 542 6437))
Shares in Lafarge rose 3 percent as the French building materials group raised its mid-term targets and said it was considering selling its underperforming roofing business.
Germany's largest insurance group Allianz rose 2.5 percent after announcing plans to cut nearly 7,500 jobs as part of a far-reaching restructuring move designed to boost earnings.
By 0715 GMT, the pan-European FTSEurofirst 300 index was 1 percent stronger at 1,289.2 points after a flat performance on Wednesday, and up 1 percent so far this year.
Asian markets ended sharply higher, with the Nikkei average rallying 3.4 percent above 15,000, scoring its biggest one-day percentage gain since Jan. 27.
U.S. stocks rose on Wednesday, driving the Dow to a two-week high and pushing the Nasdaq up more than 1 percent, boosted by strong earnings.
Among losers, British Airways fell 3 percent and Lufthansa slipped 0.9 percent after the U.K. and U.S. launched a probe into airlines pricing.
((Reporting by Anshuman Daga
Reuters Messaging:
rm://anshuman.daga.reuters.com@reuters.net
E-mail: anshuman.daga@reuters.com
Telephone: +44 207 542 6437))
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