Euroshares Hit Highs, Lebed Nerves Fade

British shares closed at a record high for the third time in five sessions, buoyed by firm U.S. Treasury bonds and lifted towards the close as the Dow Jones industrial average recovered from early losses following weaker-than-expected U.S. trade figures.

Londons FTSE 100 share index closed 11.0 points higher at 4,053.1, surpassing its previous record close of 4,050.8 set October 15. Traders and fund managers said shares could continue higher as long as U.S. markets advance, despite recent strong British economic figures suggesting a growing inflation risk.

In Moscow, Russian financial markets shrugged off the dramatic sacking of Lebed and investors focused more on economic factors, both good and bad.

Most leading shares rose modestly, confounding forecasts of a drop in prices, and ministry of finance bonds, or minfins, rose on buying by Russian and western clients.