European shares extend gains on ECB stimulus speculation

LONDON, April 24 Wed Apr 24, 2013 9:56am EDT

LONDON, April 24 (Reuters) - European shares extended gains on Wednesday afternoon, with traders citing mounting speculation about more monetary policy easing from the European Central Bank after comments from its vice president.

The ECB's Vice President Vitor Manuel Ribeiro Constancio said the central bank is looking at what steps it can take to help transmit its interest rates more evenly across the euro zone

"A rate cut is on the cards," said Ronnie Chopra, head of strategy at Tradenext, reacting to Constancio's comments.

The FTSEurofirst 300 index of pan-European shares extended gains to trade 0.6 percent higher at 1,190.72 points.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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