European shares climbed to a six-week high on Thursday after the Greek parliament passed austerity measures demanded by its lenders to open talks on a new bailout package to keep Greece in the euro, Reuters reported. In exchange for funding worth up to 86 billion euros ($94 billion), Greece has accepted reforms including significant pension adjustments, higher value added taxes, an overhaul of its collective bargaining system, measures to liberalise its economy and tight limits on public spending. The pan-European FTSEurofirst 300 index rose 1.4 percent to 1,608.17 points, marking its highest level in more than six weeks. The euro zone's blue-chip Euro STOXX 50 index also advanced 1.6 percent. "The Greek vote has helped the market post early gains. Over the next few weeks, we see the focus shifting to the results season where we expect the newsflow to be supportive," Robert Parkes, director of equity strategy at HSBC Bank, said. The FTSEurofirst 300 index is up nearly 20 percent so far this year.
