European shares edge high

European shares edged higher in cautious trading ahead of Tuesday`s US presidential election, with encouraging results and updates from some companies underpinning the broader market.

The pan-European STOXX 600 index was trading 0.3 per cent higher in early trading, after surging 1.5 per cent in the previous session on improved chances of Hillary Clinton becoming the next US president.

Shares in Primark owner Associated British Foods surged 6.8 per cent, the top STOXX 600 gainer, after the company said it expected profits to increase in the next fiscal year.

ArcelorMittal fell 5.0 per cent after the world`s largest producer of steel reported third-quarter core profit below expectations and said its final quarter would be weaker than the third, according to a news agency report.