European shares inch higher

European shares have inched higher so far today, with Germany's Dax up more than 1%.

However, worries about the eurozone debt crisis remain.

Traders say concern about Italy's rising debt is likely to cap gains going into the New Year.

Trader Robert Halver from Germany's Baader Bank said he hoped the European Central Bank would move to ease fears.

"The ECB should be able to calm the financial markets because countries like Italy and Spain need time to do their homework and (bring in) economic reforms," he said.