European shares rise in early trade; UK closed

LONDON, May 31 (BestGrowthStock) – European shares edged up in early
trade on Monday, recovering ground lost on Friday, but with
trading set to be subdued as key markets remain closed.

At 0711 GMT, the FTSEurofirst 300 (.FTEU3: ) index of top
European shares was up 0.4 percent at 1,002.00 points, after
falling 0.3 percent on Friday.
Trading was set to be subdued, with the London Stock
Exchange remaining closed for a holiday. Wall Street will also
remain closed.

Raiffeisen International (RIBH.VI: ) rose 3.1 percent after
setting the stage for its planned merger with parent RZB with a
first-quarter earnings beat, helped by low risk charges.

After European bourses closed on Friday, Fitch downgraded
Spain’s credit rating, pulling Wall Street lower.

“It’s just a reminder that the euro zone crisis hasn’t gone
away. It’s still lurking,” said Bernard McAlinden, investment
strategist at NCB Stockbrokers in Dublin.

“It’s been priced into the market for a while now. There is
a sense that global markets might have done their worst.”

Investment Research

(Reporting by Brian Gorman)

European shares rise in early trade; UK closed