European shares rise after UK rate cut, lifted by financials and industrials

jueves 4 de agosto de 2016 12:28 GYT
 

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* Pan-European STOXX 600 index rises 0.7 pct

* Siemens rises after raising outlook

* French group BIC also surges after H1 update

* Shares in Hikma, Hannover RE as results disappoint

By Danilo Masoni

MILAN, Aug 4 (Reuters) - European shares rose on Thursday as a rise in the shares of major financial and industrial stocks such as Aviva and Siemens boosted the region's equity markets.

The STOXX 600 rose 0.7 percent, although it is down 7.7 percent so far in 2016. The pan-European index extended gains after the Bank of England cut interest rates for the first time since 2009 and revived bond purchases, while Britain's FTSE turned higher and ended up 1.6 percent.

"Today's BoE action is a significant step in attempting to support the UK," said Nandini Ramakrishnan, Global Market Strategist at JP Morgan Asset Management.   Continuación...