for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

London Stock Exchange rally helps European shares hit 1-month high

LONDON, March 1 (Reuters) - European shares extended the previous session’s gains to set a one-month high on Tuesday, with London Stock Exchange leading the market higher after Intercontinental Exchange confirmed a possible counter bid for LSE.

Some investors also expected that downbeat data showing activity in China’s manufacturing sector shrank more sharply than expected in February would prompt the authorities to announce further stimulus measures.

Shares in London Stock Exchange Group surged 7.5 percent, leading the pan-European FTSEurofirst 300 index, which rose 0.3 percent to its highest level in nearly one month after gaining 0.7 percent in the previous session.

However, Barclays fell 7.3 percent after the bank reported a 2 percent fall in full-year adjusted pre-tax profit and unveiled plans to simplify its UK and international operations. (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up