European shares rise on energy boost, rate-cut hopes
European shares climbed on Monday, with investor optimism over interest rate cuts globally back to the fore, while Spanish defence and technology firm Indra jumped following a strong first-quarter profit.
climbed on Monday, with over globally back to the fore, while Spanish defence and technology firm jumped following a strong first-quarter profit.The pan-European was up 0.2%, as of 0720 GMT, with energy leading sectoral gains as rose after hiked June crude prices for most regions and as prospects of a appeared slim.
UK equities were closed for trading due to a holiday.
of Indra jumped 8.5% after the company posted a 40% rise in first-quarter net profit, supported by strong orders as global tensions spur for air defences.
Debt-laden French IT company advanced 4% after announcing four distinct investor offers for debt restructuring and cash infusion.
Dutch postal firm dropped 3.5% after a wider-than-expected first-quarter loss. Germany's giant shed nearly 4%.
A media report showed European Central Bank Chief Economist Philip Lane noted a stronger case for June rate cut on easing services inflation, while Friday's softer-than-expected U.S. jobs report renewed bets that the Federal Reserve would most likely ease rates this year.
Source: Stocks-Markets-Economic Times
