Electrolux starred as European share indexes climbed to fresh 32-month highs on Tuesday, the Swedish home appliance maker jumping as much as 15 percent after saying it will speed up its restructuring. Electrolux said it would spin off its Outdoor Products unit, which makes lawnmowers and chainsaws, and look to move more production to low-cost countries. Its shares traded up 13.3 percent at a year high of 166 Swedish crowns by 1155 GMT. By that time, the FTSEurofirst 300 index of pan-European blue chips was 0.2 percent firmer at 1,101.7 points, its first time above 1,100 points since June 2002. The narrower DJ Euro Stoxx 50 index rose 0.3 percent to 3,085.2 points. Despite powerful recent gains, stocks still looked attractive given the earnings performance, said Alain Bokobza, a European equity strategist at SG Securities. "Equities are cheap and volatility remains low. Volatility is a measure of risk, so the risk/reward ratio is attractive to me, at a time when we know that one day, the bond market will have to massively correct," he said. A sharper-than-expected improvement in Germany's ZEW business expectations indicator had little impact, with analysts saying stronger proof is needed that Europe's biggest economy is on the mend. --More 1803 Local Time 1503 GMT
