LONDON Nov 4 European shares rose on Monday,
with sentiment buoyed by increased expectations the European
Central Bank will strike an equities-friendly dovish tone at a
policy meeting this week.
That follows a surprise drop in euro zone inflation to 0.7
percent in the year to October, well below the ECB's target of
just under 2 percent. Both UBS and RBS expect a rate cut at
The pan-European FTSEurofirst 300 index was 0.4
percent higher at 1,295.06 points to trade near last-week's
5-year high. The index is up about 14 percent so far this year.
Europe's largest airline, Ryanair, fell 9 percent
after saying its annual profit was set to fall for the first
time in five years as intense competition pushes average fares
down by around 10 percent over the winter months.
Easyjet fell 5 percent.
According to Thomson Reuters StarMine, more than half of the
STOXX Europe 600 companies have reported results so
far, of which 47 percent have met or beaten expectations,
against 58 percent in the full second quarter and 52 percent in
the January-March period.