European Share Prices Rise Ahead of Bundesbank Meeting
May 02, 2011
German shares were lifted by gains on Wall Street and on hopes that the Bundesbank would cut interest rates at its policy-setting Central Bank Council meeting on Thursday. French stocks also gained on speculation that Germany might lower interest rates. In London, stocks rose following the release of M4 money-supply data for July, which showed a dramatic slowdown in annual growth. Investors in both London and Madrid remained cautious ahead of any news from the U.S. Federal Reserve's Open Market Committee meeting, though a strong opening on Wall Street sparked buying in Madrid. Prices in Brussels advanced on the back of slightly lower bond yields, while shares in Milan recovered from losses in the previous session, and a rebound in pharmaceutical group Astra boosted Swedish stocks. Amsterdam's bourse was supported by positive first-half earnings, while Swiss equities received a strong boost from gains among drug issues. Shares in South Africa, however, tumbled after the rand fell to a fresh low against the dollar in overnight New York trading. In dollar terms, the European sector of the Dow Jones World Stock Index rose 0.95 to 145.67 Tuesday, following Monday's loss of 0.13. The world index as a whole climbed 0.05 to 139.16, after gaining 0.18 a day earlier. Oil-drilling and oilfield-equipment stocks led the Dow Jones Global Industry Groups, while biotechnology and fishing issues were among the laggards. European Stock Market Indexes Market Belgium
