European shares hit a 15-week high on Thursday on a strong run of corporate results, notably from Electrolux and AkzoNobel, and fuelled by hopes of further policy tweaks to counter the euro zone debt crisis.
But several warnings from companies about a challenging economic outlook and a sharp rise in Spanish government bond yields at auction reminded investors that a bumpy road lies ahead.
The FTSEurofirst 300 index was 0.7 percent firmer at 1,061.71 points by 1136 GMT. It hit 1,062.38, the highest since early April, after traders cited a newswire report quoted a draft memorandum as saying the EFSF bailout fund would set aside aid money to buy Spanish bonds.
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