[LONDON] European shares closed at their highest level in five months on Friday as investors cheered positive signs on US-China trade talks and UK lawmakers' vote to request a delay in a potentially chaotic exit from the European Union .
Turnover picked up on Friday after being generally in line with long-term averages in recent sessions - STOXX 600 volume was almost double its 90-day average as investors rushed to position themselves ahead of another critical Brexit week.The mood was boosted by growing expectations that Britain will not leave the European Union on March 29 without a deal to minimise economic disruption following Thursday night's parliamentary votes.London's domestically focused midcap index rose 1.
Gains may be a little overdone given the uncertainty about the outcome of next week's Brexit votes, a slowing of economic growth and the fact that there has been little more than rhetoric around the US-China trade talks, said Edward Park, deputy chief investment officer at asset manager Brooks MacDonald.Still, technology stocks, which are particularly exposed to China, rallied 2.6 per cent, their best day in five months.
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