(MENAFN - AFP) Europe's main stock markets rose on Thursday as investors took heart from news that Ireland could become the first eurozone nation to emerge from its bailout programme, dealers said.At the same time, however, sentiment remained fragile before the start of a two-day European Union summit that will discuss a potential bailout for Cyprus.In midday trade, London's benchmark FTSE 100 index of top companies added 0.40 percent to 6,507.07 points.Elsewhere, Frankfurt's DAX 30 index won 0.88 percent to 8,040.15 points and in Paris the CAC 40 gained 0.68 percent to 3,861.81.Stocks also gained traction after another record for the Dow index on Wall Street that was fuelled by upbeat US economic data.In foreign exchange activity, the euro eased to 1.2935 from 1.2956 late on Wednesday in New York. Gold prices decreased to 1,586.63 an ounce on the London Bullion Market from 1,589.25."European stock indices are all trading higher, buoyed by the prospect of Ireland becoming the first country to exit the bailout program later this year," said analyst Craig Erlam at traders Alpari.On Wednesday, Ireland returned to the 10-year bond market for the first time since it benefited from an international bailout in 2010, raising almost double the amount predicted by analysts.Dublin raised five billion euros (6.48 billion) in an auction, while the rate of interest was 4.15 percent, the country's National Treasury Management Agency said."Ireland completed its first auction of 10-year bonds yesterday, as it moved a step closer to exiting the bailout program, which has been viewed in the markets as the first time we're seeing the positive side to austerity," added Erlam."This also marks a shift from austerity to growth for Ireland which gives hope to other countries currently in the program."Later on Thursday, at 1600 GMT, EU leaders begin a two-day summit against a backdrop of anti-austerity protests elsewhere.The talks include a late-night eurozone-only meeting, leading into a gathering of eurozone finance ministers on Friday night -- when they aim to nail the terms for a bailout of Cyprus.The summit comes after a brash anti-austerity party won a stunning 25 percent of the vote in last month's Italian elections, in a warning for fiscal hardliners such as German Chancellor Angela Merkel who faces polls later in the year."It's the first day of EU summit in Brussels today, when very sensitive issues “ the austerity measures and youth unemployment “ will be discussed," added analyst Anita Paluch at trading firm Gekko Markets."It will be interesting to see, which direction Europe is inclined to go in the face of the growing tensions and after Germany has recently presented new spending cuts. With different countries having different takes in the issue, ideological clash could occur."In company earnings news, meanwhile, German automaker BMW revealed that 2012 had been the best year in the company's history and forecast further sales growth this year.Group profit last year increased by 4.4 percent compared to 2011, to 5.1 billion euros (6.6 billion), on 11.7 percent higher revenues to 76.8 billion euros, the company, which also produces the Mini and Rolls-Royce, said.On the back of its results, BMW group said it would propose increasing the dividend to 2.50 euros per share from 2.30 euros for 2011.However investors seemed unimpressed, with BMW shares on the Frankfurt stock exchange down 0.80 percent at 70.7 euros.In Wall Street action on Wednesday, the Dow edged up 0.04 percent to another record high after a ninth straight day of gains, its longest winning streak for 16 years.US traders took heart from a report showing a stronger-than-expected rise of 1.1 percent in retail sales in February from January, though that was partly due to higher petrol pri
