LONDON, April 29 European shares rose on Monday,
building on last week's steep advance after an Italian coalition
government was named, halting two months of political
uncertainty that has taken its toll on equities.
The FTSEurofirst 300 was up 0.4 percent at 1,201.62
by 0710 GMT, having jumped 3.7 percent last week fuelled by
expectations for an interest rate cut by the European Central
Bank after weak macro data including falling German business
Italy's FTSE MIB, meanwhile, added 1.3 percent
after Italian centre-left politician Enrico Letta was sworn in
as Italy's new prime minister over the weekend.
"It's a positive development.. (but) I'm not constructive on
European equities," Michael Hewson, analyst at CMC Markets,
said, citing a weak European economic outlook.
"They're still well below the highs... and to be quite
honest, while you could argue that Italy's got some scope to go
up, that's only because it's been sold off."
Italian shares have been underperforming this year, with the
MIB up 1.8 percent year-to-date, while the FTSEurofirst300
is up 5.5 percent, as February's inconclusive election
revived worries over the pace of economic reforms for the