European stocks eked out minor gains on Wednesday as rising technology, health care and financial shares offset losses for miners such as Anglo American and Rio Tinto as well as energy stocks, accoring to Reuters. Shares in Europe moved back into positive territory late in the session in the wake of a Wall Street rally on the back of stronger than expected U.S. manufacturing data. The FTSEurofirst 300 index of top European shares closed 0.07 percent up at 1,502.84 points, having touched 1,504.18 points in intraday trading, its highest level since February 2001. The narrower DJ EuroSTOXX 50 index rose 0.15 percent to 4,188.24 points. "The market is in very good shape," said a trader in Germany, where the top-30 DAX index rose 0.15 percent. But some other market watchers were more cautious. "We've had four really good years on the trot, and some sort of consolidation could be due, though it may not come until after the first quarter," said Mike Lenhoff, chief strategist at Brewin Dolphin. Royal Bank of Scotland rose 1.9 percent after the stock was tipped by several analysts for a strong year. Dresdner Kleinwort named RBS its top UK bank pick for 2007 and UBS said: "RBS remains the cheapest large bank anywhere." Bank shares firmed 0.6 percent on the DJ EuroStoxx sector index. Roche rose 2.3 percent and GlaxoSmithKline added 1.8 percent. Healthcare information company IMS Health said on Wednesday that global pharmaceutical sales grew 5 percent in the 12 months to October in leading markets. Mining stocks slumped, with Anglo American and Rio Tinto shedding 3.7 percent each as copper tumbled below $6,000 a tonne -- its lowest since April -- on worries about rising inventories.
