European shares set three-week highs, focus on BoE

jueves 14 de julio de 2016 04:32 GYT

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* FTSEurofirst 300, STOXX 600 up around 1 pct

* Mining, energy and auto stocks in demand

* BoE is set to cut rates later in the day

By Atul Prakash

LONDON, July 14 (Reuters) - European shares climbed to a three-week high on Thursday, boosted by auto and commodities-related stocks, with sentiment improving on expectations that the Bank of England (BoE) will cut interest rates later in the day to spur economic growth.

The pan-European STOXX Europe 600 and the FTSEurofirst 300 indexes were both up around 1 percent in morning deals after rising earlier in the session to their highest since June 23 -- the date when Britons voted in a referendum on European Union membership.

The result the next day showed that the "Brexit" camp had won the referendum, resulting in a sharp sell-off in shares before the market started recovering partly on expectations of further stimulus from central banks.

Riskier assets were in demand before a policy meeting of the British central bank, which is widely expected to cut interest rates for the first time in more than seven years as it tries to cushion the economy from the Brexit vote.   Continuación...