LONDON, April 24 European shares edged higher on
Wednesday, adding to the previous session's hefty gains, buoyed
by several solid earnings reports and continued expectations of
further monetary easing.
The FTSEurofirst 300 was trading up 0.2 percent at
1,185.26 points by 0716 GMT, having jumped 2.4 percent on
Tuesday to post its biggest gain since August 2012 after weak
German data raised hopes of a European Central Bank rate cut.
As a result, investors would eye the German Ifo business
climate indicator at 0800 GMT - expected to dip to 106.2 versus
106.7 in the previous month - where a weak reading could further
fuel ECB rate cut speculation, traders said.
"I think (the market) will be choppy. Obviously we'll have
the Ifo - I'll be surprised if it doesn't come in below
expectations. If it does you're going to get all this rate cut
speculation," Michael Hewson, analyst at CMC Markets, said.
Aluminium maker Norsk Hydro was a solid gainer
early on, ahead 2.8 percent after unveiling first-quarter core
earnings that beat expectations.