By
Reuters
Published
Mar 15, 2010
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European shares extend gains after US retail data

By
Reuters
Published
Mar 15, 2010

LONDON, March 12 (Reuters) - European shares extended gains in afternoon trading on Friday 12 March after data showed sales at U.S. retailers rose unexpectedly in February despite a drop in vehicle purchases and inclement weather.


The U.S. Commerce Department said total retail sales rose 0.3 percent as consumers bought an array of goods from necessities to luxury items.

At 1338 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.7 percent at 1,063.69 points. The index climbed 26 percent in 2009 and has surged 64 percent since hitting a record low in early March last year.

Financial stocks were among the top gainers, with STOXX Europe 600 banking index .SX7P rising 1.2 percent. Standard Chartered (STAN.L), Barclays (BARC.L), Lloyds (LLOY.L), Royal Bank of Scotland (RBS.L), BNP Paribas (BNPP.PA) and Societe Generale (SOGN.PA) rose 0.5 to 4.9 percent. (Reporting by Atul Prakash)

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