Cyprus Mail

European shares advance on Fed minutes, Tesco rallies

By Atul Prakash

European shares rose sharply on Thursday, tracking gains in the United States and Asia, as retail stocks rallied and the minutes from the Fed’s recent meeting reassured investors that it was not in a hurry to start raising rates.

The FTSEurofirst 300 index of top European shares was up 1.3 percent at 1,347.70 points by 0856 GMT, helped by a 1.4 percent rise in the STOXX Europe 600 Retail index.