European stocks reach 5-week high

PARIS: European shares were up 0.5 percent around midday yesterday, advancing for the seventh consecutive session and reaching a five-week high, led by buoyant financial stocks such as Santander and Axa.

At 1106 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 885.85 points.

Food retailers were also among the biggest gainers, propelled by Wm Morrison's raised outlook for full-year results. Morrison surged 8.3 percent, Carrefour added 1.6 percent, Tesco rose 1.7 percent and Sainsbury climbed 2.5 percent.