European shares rise to three-month high
European shares hit three-month highs on Thursday, rising in thin trade as expectations grew for aggressive European Central Bank (ECB) action next week.
A solid quarterly report from chipmaker Infineon and a rebound in metal prices also provided support.
The pan-European FTSEurofirst 300 index closed up 0.9 percent at 1,516.25 points, its highest level since August. However, volumes were just 65 percent of its 90-day average.
Wall Street was closed for the U.S. Thanksgiving holiday.
The euro edged towards seven-month lows against the dollar as investors bet that the ECB would ease policy again in December.
Infineon climbed 12.9 percent after the chip maker posted higher-than-expected quarterly operating results and promised an increase in revenue for its latest financial year at the high end of analysts' expectations.
The company also proposed a higher-than-expected dividend increase to 0.20 euro a share.
The bullish update boosted other chipmakers, with STMicro up 5.4 percent and Dialog Semiconductor up 4 percent.
Remy Cointreau fell 3 percent after reporting a 7.3 pct fall in like-for-like current operating profit in the first half, reflecting soft Chinese demand for its premium cognac.
Sector peer Royal UNIBREW, rose 7.7 percent after reporting quarterly results above analysts' expectations and raising its medium-term core profit target.
Shares in renewable-energy firm Abengoa slumped for a second day as insolvency proceedings continued. A potential investor backed out of a 350-million-euro deal to recapitalize the company. The stock was down 30 percent, after half its market value was wiped out on Wednesday.
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