London - European shares hit fresh seven-year highs on Tuesday on the back of better-than-expected results at BHP Billiton and expectations of cost savings at network operator Telefonica Deutschland from its E-Plus buy.
Greece's future in the eurozone was also in focus, meanwhile, after the European Commission said a list of economic reform plans submitted by Greece was “sufficiently comprehensive”.
Shares in BHP rose 3.6 percent, driving a sector rally, after the global miner beat market forecasts by posting a smaller-than-expected drop in half-year profit. Telefonica Deutschland rose more than 7 percent after revealing expectations of more than 250 million euros in savings for 2015.
Tha broader FTSEurofirst 300 index of pan-European shares was up 0.1 percent at 1,536.73, its highest level since early 2008.
Reuters