December 11, 2013
Europe equities edge up but Milan market underperforms
European equities edged higher buoyed by gains at fashion group H&M, although fresh political uncertainty in Italy hit Milan's stock market.
The pan-European FTSEurofirst 300 index, which hit a 5-year high of 1,274.59 points earlier this month, crept up by 0.2 percent to 1,259.29 points in late session trade.
The euro zone's blue-chip Euro STOXX 50 index, which reached a two-year high of 2,955.47 points this month, was flat at 2,927.92 points.
Hennes & Mauritz topped the FTSEurofirst's leaderboard with a 6.9 percent rise that added the most points to the FTSEurofirst 300 index, after it reported forecast-beating third quarter results.
However, Milan's FTSE MIB equity index fell 0.7 percent to make it the worst-performing major regional market, as the Italian bourse was hit by fresh concerns over the future of Rome's fragile governing coalition.
Italian centre-right deputies supporting former premier Silvio Berlusconi renewed threats to resign if their leader was expelled from parliament after a tax fraud conviction, while Italian bond yields also rose.
Meanwhile, Japan's Nikkei was one of the few big risers among the major stock markets. It ended the day 1.2 percent higher after Kyodo News reported the government would consider cutting corporate taxes, a proposal that has swung in and out of favor for weeks now.