European shares rise in early trade; banks gain

LONDON, April 26 (BestGrowthStock) – European shares rose sharply in
early trade on Monday, following strong gains in the United
States and Japan, led by banks amid optimism Greece can
avoid defaulting on is debt.

At 0706 GMT, the FTSEurofirst 300 (.FTEU3: ) index of top
European shares was up 1.4 percent at 1,107.06 points, after
rising 0.8 percent in the previous session.

Greece’s finance minister said on Sunday aid from the EU and
IMF would arrive in time to avert what would be the euro zone’s
first sovereign debt default, although there were growing signs
that a 45 billion euro ($60 billion) rescue package would have
to be bigger.

Banco Santander (SAN.MC: ), Barclays (BARC.L: ), Deutsche Bank
(DBKGn.DE: ), HSBC (HSBA.L: ), Lloyds (LLOY.L: ) and Royal Bank of
Scotland (RBS.L: ) rose between 1.2 and 2.5 percent.

“U.S. economic data, and other global data has been driving
the market higher,” said Bernard McAlinden, investment
strategist at NCB Stockbrokers. “I’m expecting the market to start going sideways. I’m surprised at how well it’s recovered after the recent correction.”
(Reporting by Brian Gorman)

European shares rise in early trade; banks gain