European share prices inched higher Wednesday on positive corporate news, with gains limited by mixed economic data from the United States.

Asian markets also climbed as investors picked up bargains following losses in the previous session.

In London the FTSE 100 index finished at 5364.81, up 0.77 percent from Tuesday, while in Paris the CAC 40 rose 0.65 percent to close at 3809.16. In Frankfurt the Dax added 0.58 percent to reach 5803.02 points.

Elsewhere there were gains of 0.39 percent on the Swiss Market Index, 0.15 percent in Milan and 0.75 percent in Amsterdam. Share prices fell 0.30 percent in Madrid.

US stocks staggered higher after a series of economic reports led by better-than-expected data on jobless claims failed to provide a major catalyst ahead of the Thanksgiving Day holiday.

The Dow Jones Industrial Average was up 0.36 percent at 10 471.35 at mid-day while the tech-heavy Nasdaq had risen 0.30 percent to 2175.60.

Market action came after economic reports sent conflicting signals to traders.

One report showed initial claims for US jobless insurance benefits had plunged to their lowest levels since September last year.

Other data revealed that US incomes rose 0.2 percent and consumer spending jumped 0.7 percent in October, helped by a rebound in auto sales. A third report showed orders for durable manufactured goods fell 0.6 percent in October.

"Both the personal income and spending, and initial claims, reports produced positive surprises," said Patrick O'Hare at Briefing.com.

"The durable orders data was disappointing, but a sizable upward revision to the prior month neutralised the weak October reading."

The market gained momentum after data showing a 6.2 percent rise in new home sales.

The report "extends this week's positive note on the residential real estate market," said Elsa Dargent at Natixis.

European stocks too were uncertain how to react to the US data.

"The different indicators blew hot and cold, with some clearly better than had been expected and others worse," said Bertrand Lamielle of B*Capital, a unit of BNP Paribas in Paris.

"Volume was light and trading was featureless."

On the Paris exchange media group Vivendi jumped 4.29 percent on a positive recommendation from BNP Paribas-Exane.

Defence and aerospace group EADS was the day's big loser, shedding 3.80 percent after Citigroup lowered its share price target to 14.50 euros from 16.50 euros.

In London mining issues led the way, powered by a new record for gold prices, which peaked above 1180 dollars an ounce.

BHP Billiton added 3.10 percent and Anglo American 2.71 percent.

In Frankfurt energy giant EON rose 1.00 percent after announcing plans to join Abengoa of Spain to build two solar-powered thermal stations in Spain.

In Asian deals on Wednesday, Tokyo share prices advanced 0.43 percent in value and Hong Kong closed up 0.84 percent.

AFP

Maroga's salary summary Parliament was told exactly how much Eskom's former CEO, Jacob Maroga received in his pay packet.

Mobilise your life Rebekah Kendal explores how to use mobile applications to mobolise your life.

Behind ANC battle lines The ANC-led alliance has demonstrated a dangerous nature since Jacob Zuma became president.