Shares scale six-year highs in Europe

London, New York: European shares rose to their highest close since mid-December 2000 yesterday, driven by a surge in takeover target ABN Amro and by US March consumer spending data that outstripped forecasts.
The pan-European FTSEurofirst 300 index rose 1.11 per cent to an unofficial close of 1,570.75 points, its strongest close since December 13, 2000.
In other European markets, London's FTSE 100 index gained 0.7 per cent to secure its strongest close since September 14, 2000, while Frankfurt's DAX rose to a new six-and-a-half-year closing high, up 1.7 per cent, and Paris' CAC 40 added 1.3 per cent.
US stocks also rose yesterday, fuelling a 1 per cent gain in both the Nasdaq and the S&P 500 indexes, as Citigroup's strong results and a $25 billion buyout of Sallie Mae boosted sentiment.
The rally helped the major indexes seal their recovery from a late February sell-off.