European shares turned positive in choppy trade on Friday after agreement among the majority of regional leaders at an EU summit to pursue closer integration and stricter budget rules.
At 4:49 a.m. British time, the FTSEurofirst 300 <.FTEU3> index of leading European shares was up 0.4 percent at 977 points, after trading as low as 964.97 points, buoyed by strong gains for the French and German bourses.
Certainly some positive things have come out of the summit. The 17 single currency nations have come together and agreed some key terms for a new treaty to form a fiscal union. If these measures get integrated efficiently and in a credible fashion, then it would help to prevent the crisis that we have seen today from happening in the future. said Joshua Raymond, chief market strategist, City Index.
(Reporting by Brian Gorman and Atul Prakash)