European shares edge up ahead of U.S. election

Written By Unknown on Selasa, 06 November 2012 | 20.07

By Marc Jones

LONDON (Reuters) - European equities edged higher on Tuesday helped by stronger travel and technology stocks but no major moves were expected until investors have the results of the U.S. election.

Uncertainty over Greece's next aid payment pushed the euro to a two-month low. China's new leadership team, to be unveiled this month, was also a market focus.

Polls indicate the election between President Barack Obama and Republican challenger Mitt Romney remains an extremely close call and the uncertainty left markets in a cautious mood.

"Everybody is waiting on the U.S. election, people are waiting on (leadership transition) China and also on what happens in Greece where it is incredibly important that it gets this new money," said ABN Amro economist Aline Schuiling.

World stocks on the MSCI global index were up 0.25 percent by 1145 GMT and top European shares were up 0.6 percent as both clawed back some of Monday's falls.

European technology shares were the top sectoral gainers, led by buying of chip designer ARM


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