European shares get boost from Yellen comments
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* FTSEurofirst 300 share index rises 1 percent
* Yellen comments provide support to equities
* Commodities-related stocks in demand
By Atul Prakash
LONDON, June 7 (Reuters) - European shares advanced on Tuesday after Federal Reserve Chair Janet Yellen made no clear reference to the timing of any increase in U.S. interest rates.
Yellen's remarks on Monday followed Friday's dismal monthly jobs report, which raised concerns over the ability of the economy to absorb a rate hike as early as June. She called the jobs report "disappointing", but said "one should not attach too much significance to a single report".
"Yellen noted several positive developments, but also pointed out some negative ones. The end result was a decline in summer tightening expectations," said Koen De Leus, senior economist at KBC, in Brussels.
"A June rate hike is more or less out of play now, and even for a July hike, we'll have to see a battery of hugely positive data. In the near term, all eyes will be on the Brexit story and volatility will rise as we get closer to the referendum day." Continuación...