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European shares on Thursday near a maximum of 29 months for the fourth straight session, with economic and disparate corporate and technical indicators suggest that the recent Bull Run may be exaggerated. The FTS Eurofirst 300 index of top European shares closed up 0.1% to 1187.20 points, followed by their fifth day of gains, with Capgemini leading hikes and Schindler, low. A jump in core consumer prices in the U.S. and a small rise in requests for weekly unemployment benefits in the country had put pressure on the shares, before the publication of a report upbeat manufacturing data that helped the recover from market losses.

“Markets have been moving sideways (…) and there was not much enthusiasm. It seems that investors were awaiting the U.S. data,” said Angus Campbell, head of sales at Capital Spreads. While the weekly unemployment figures were slightly worse than expected “has not moved significantly to the markets,” added Campbell, while the consumer price data was compensated after a ‘big’ and reliable manufacturing data from the Federal Reserve Philadelphia. Technical indicators support a short-term setback for the FTSEurofirst 300, said Charles Stanley analyst, Bill McNamara, because recent good run had left the index overbought on both daily and weekly parameters.

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