Calmer bond market helps European shares advance

Calmer bond market helps European shares advance

LONDON - European shares advanced on Friday, as calmer conditions in the bond market buoyed the region's equity indexes, while drugs group Roche rallied after positive product results.

The pan-European FTSEurofirst 300 index rose 0.2 per cent. Swiss group Roche was the best performer on the FTSEurofirst 300, climbing 2.9 per cent after reporting strong results from cancer drug trials.

Syngenta also edged up 0.4 per cent after industry sources told Reuters that US seeds giant Monsanto was trying to line up buyers for assets worth up to $8 billion to appease competition authorities before making a fresh takeover approach for Syngenta.

Traders said signs that jitters in the bond market this week were starting to recede were also helping to prop up European stock markets.

"The sell-off in bond markets does appear to be slowing following what was quite a dramatic decline in a very short period of time," said Oanda senior market analyst Craig Erlam.

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