Legrand leaps as European shares gain ground

martes 2 de septiembre de 2014 06:27 GYT
 

* FTSEurofirst 300 rises 0.3 pct

* Legrand buoyed by broker upgrade

By Sudip Kar-Gupta

LONDON, Sept 2 (Reuters) - European shares rose on Tuesday, with French industrial group Legrand outperforming in response to a broker upgrade.

But European stock markets remained within a tight range as investors await the European Central Bank's (ECB) policy decision later this week.

While most market participants do not expect the ECB to take major easing steps this week, further measures are considered a matter of "when", not "if" in the face of risks to euro zone growth posed by low inflation as well as the Ukraine conflict, where Kiev forces are fighting pro-Russia separatists.

The pan-European FTSEurofirst 300 index, which has risen nearly 7 percent from its mid-August low, was up by 0.3 percent at 1,380.48 points, while the euro zone's Euro STOXX 50 index rose 0.6 percent to 3,194.16 points.

"Indexes have been moving sideways following the recent rally, a pattern which is usually followed by further gains. In the short term, European indexes should resume their rise towards June highs," Aurel BGC analyst Gerard Sagnier said.

European shares have rallied following dovish comments by ECB President Mario Draghi, which sparked market bets that the central bank is preparing to pump more liquidity into the system, possibly via purchases of government or corporate bonds, a measure known as quantitative easing (QE).   Continuación...