Metal stocks were also in demand after zinc prices touched record highs and as gold prices also strengthened. BHP Billiton and Rio Tinto gained more than 1.1%

Telecoms advanced again after TeliaSonera, which reported on Tuesday forecast-beating third-quarter numbers, gained 0.5% following target price upgrades from Morgan Stanley, Deutsche Bank and UBS. Greek mobile group Cosmote gained 1.5%, while Vodafone added 0.6%.

Decliners

Telenor bucked the telecoms trend, retreating from some of its recent gains that followed strong third-quarter results, falling 1.5%.

Tyre makers led the decliners on Wednesday, as Continental, the German tyre and car parts maker, fell 0.8% after it reported a fall in third-quarter core operating profit as raw materials costs mounted and auto industry production in the US stalled. Michelin also fell 1.1%.

Oil and gold

Crude oil for December delivery fell 47 cents, or 0.8%, to $58.26 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Brent crude oil for December declined 41 cents to $58.62 a barrel on the ICE Futures exchange in London.

Gold prices rose for a seventh consecutive trading session in London amid concern about a slowdown in the U.S. economy. Gold for immediate delivery in London rose $5.40, or 0.9%, to $612 an ounce.

Currencies

The U.S. dollar was little changed before a U.S. report on manufacturing growth today. The greenback traded at 117.04 yen. in London from 116.98 yen in New York late yesterday. It was at $1.2755 per euro from $1.2762 on Tuesday. The British pound traded at $1.9095 against the dollar from $1.9081 yesterday.