European stocks extend gains as Glencore floats (AFP)

London (AFP) - European stock markets rose Thursday, with the mining sector, supported by the flotation of Glencore Swiss goods giant.

London's benchmark index FTSE 100 grimpé a from 0.98% to 5,981.46 points, approaching noon, DAX 30 Frankfurt rallied 1.37% to 7,403.99 points and in Paris the CAC 40 index gained 1.26% to 4,027.66.

The index, Stoxx 50 of the larger companies in the advanced Euro 1.21% to 2,901.88 points.

Markets had already staged a technical rebound Wednesday after recent falls, taking their lead from firmer prices.

"European indices continue to trade higher for a second successive session... led by continuing confidence in resources stocks" said analyst Joshua Raymond financial spread-betting firm city Index.

Glencore, trader of more products in the world by revenue, said Thursday that he had raised about 10 billion (EUR 7.0 billion) through a set of the initial public offer at 530 pence per share.

At this price, the group is $ 59.2 billion and flotation mark the biggest IPO so far this year.

Immediately pushed strong unofficial trade market price.

"Offer of Glencore has seen a substantial interest of investors around the world and was significantly oversubscribed during the price range providing Glencore with a high quality, diverse and distributed geographically the investor base," said Ivan Glasenberg"Glencore, Director General.

The company, based in Baar, set on Thursday the final price for the introduction on the stock exchange to 530 pence in the 480-580 pence range which it had announced in early May.

Conditional - unofficial trade shares on the condition that they will be eventually be fully listed on the stock market - began Thursday on the London Stock Exchange, and the price rose to 548 pence shortly after the market opened at 0700 GMT. Later, he stood at 545 pence.

Official trade full shares will begin May 24 in London and Hong Kong on May 25.

US stocks had propelled at the same time more Wednesday on the back of the soaring prices of raw materials and better - that the gains expected from the manufacturer of the Dell, traders said.

However, the shares in Tokyo closed 0.43% lower Thursday, weighed down by weak Japanese data, falls of stocks of the utility and a mood of wait and see before the release later in the day us economic data.

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