European shares finished the day up but they had slipped from their earlier highs as Wall Street turned negative.
Banks benefited from the previous day’s news that top US lenders have been cleared to repay state aid. Oil and mining companies shares rose as the weaker dollar boosted crude prices and media reports of stronger Chinese factory output increased expectations that demand for commodities will recover. That helped metals prices; copper hit an eight month high and gold topped $960 an ounce. Fiat’s tie up with Chrysler pushed its shares up five percent. Zara’s parent company Inditex, which is Europe’s largest clothing retailer, gained five percent due to improved sales and revenue at the start of the second quarter.