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European share gains limited by US consumer gloom

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European share gains limited by US consumer gloom

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Gains in European shares were limited in afternoon trading by news of deteriorating U.S. consumer confidence this month.

The European FTSE 300 was up slightly, breaking out of 3 days of losses. The European benchmark index is up more than 50% from its lifetime low in March as investors become more confident on the prospects of economic recovery. The big gainers were energy shares such as Total and Royal Dutch Shell as BP’s impressive results had a knock on effect. Britain’s FTSE 100 Index was up a fraction of a per cent.