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European shares extend winning run, boosted by German stocks

Reuters - UK Focus

LONDON, April 2 (Reuters) - European shares rose on Wednesday, gaining for their seventh session in the row, lifted by German stocks on optimism over the outlook for Deutsche Post (Other OTC: DPSGY - news) and good U.S. sales figures for some car makers.

Deutsche Post, the world's biggest postal and logistics group, gained 2.5 percent, the top FTSEurofirst 300 riser in early deals, after unveiling its new medium-term financial targets, with traders saying targeted growth in earnings looked attractive.

German stocks also benefitted from its heavy weighting in automakers, with BMW (Berlin: BMW.BE - news) and Porsche up after strong U.S. car sales data.

The German DAX rose 0.3 percent, outstripping 0.1 percent rises for British and French blue chips.

The pan-European FTSEurofirst 300 rose 0.2 percent to 1,343.17, having rallied 3.7 percent in the previous six sessions, leaving the index just 0.7 percent off a 5-1/2-year high hit in February. (Reporting by Alistair Smout; Editing by Francesco Canepa)