LONDON: European shares edged up yesterday after Italy finally formed a government, ending two months of political uncertainty, although analysts saw the gains petering out in the near term.
The FTSEurofirst 300 added 0.1 per cent to 1,197.98 by 1052GMT, having jumped 3.7 last week. That left it around one per cent shy of its 2013 peak.
“We’re slightly high and dry in terms of what drives the next leg,” said Ian Williams, strategist at Peel Hunt.
The eurozone’s blue-chip Euro STOXX 50 rose 0.5 per cent to 2,697.20.
Technical analysts expect the index to stay within the roughly 200 point range it has traded in this year.
Milan’s FTSE MIB outperformed the region yesterday, adding 1.5 per cent after the Italian centre-left’s Enrico Letta was sworn in as prime minister at the weekend. Reuters