August 30, 2016 / 7:26 AM / in 2 years

European shares rise as doubts linger over September U.S. rate hike

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LONDON, Aug 30 (Reuters) - European shares rose on Tuesday in early deals as investors pared back some of their earlier expectations that the U.S. Federal Reserve could hike interest rates in September.

The pan-European STOXX 600 was up 0.3 percent, having fallen in the previous session on worries that a U.S. rate hike could come as soon as September following a speech from Fed Chair Janet Yellen last week and hawkish comments from Vice Chair Stanley Fischer.

The implied probability that the U.S. Fed will hike interest rates in September had fallen back to 36 percent.

Germany’s Wirecard was the top gainer, jumping 4.8 percent after Barclays raised its rating on the stock to “overweight” from “equal weight” and lifted its target price.

Britain’s Bunzl also rose, up 1.4 percent after the business supplies distributor’s first-half profit beat consensus.

The company also said that it did not expect Britain’s vote to leave the European Union to have a significant impact.

The commodities-related European oil and gas and basic resources sectors were the only ones in negative territory, down 0.2 percent and 2.1 percent respectively. (Reporting by Kit Rees; Editing by Sudip Kar-Gupta)

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