LONDON, Jan 6 (Reuters) - European equities climbed to their highest in nearly 28 months on Thursday, though pared gains in late session as investors scaled back their trading positions ahead of Friday's widely-watched U.S. non-farm payrolls data.
The FTSEurofirst 300 index of top European shares provisionally finished 0.4 percent higher at 1,146.59 points after touching 1,154.10, the highest since mid-September of 2008.
'Investors are expecting to see very good numbers from tomorrow's non-farm payrolls report. And if we do get unbelievable numbers, then it could pose some threat to QE2,' said Joshua Raymond, strategist at City Index, referring to the U.S. Federal Reserve's stimulus measures.
'We are just seeing a bit of profit-taking and removing some risks ahead of tomorrow.'
Insurers were among the top gainers, with the sector index rising 1.8 percent and AXA gaining 2 percent.
(Reporting by Atul Prakash) Keywords: MARKETS EUROPE STOCKS/CLOSE (atul.prakash@reuters.com; +44 20 7542 6189; Reuters Messaging: atul.prakash.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The FTSEurofirst 300 index of top European shares provisionally finished 0.4 percent higher at 1,146.59 points after touching 1,154.10, the highest since mid-September of 2008.
'Investors are expecting to see very good numbers from tomorrow's non-farm payrolls report. And if we do get unbelievable numbers, then it could pose some threat to QE2,' said Joshua Raymond, strategist at City Index, referring to the U.S. Federal Reserve's stimulus measures.
'We are just seeing a bit of profit-taking and removing some risks ahead of tomorrow.'
Insurers were among the top gainers, with the sector index rising 1.8 percent and AXA gaining 2 percent.
(Reporting by Atul Prakash) Keywords: MARKETS EUROPE STOCKS/CLOSE (atul.prakash@reuters.com; +44 20 7542 6189; Reuters Messaging: atul.prakash.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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