Utilities push Europe shares to 4-wk closing high

LONDON, Sept 6 (BestGrowthStock) – European shares edged higher on
Monday, adding to a strong rally last week, with utilities
rising after the German government extended nuclear power plants
lifespans, but in low volumes with Wall Street closed.

The pan-European FTSEurofirst 300 (.FTEU3: ) index of top
shares rose 0.1 percent to end the day provisionally at 1,065.21
points, the highest close since Aug. 9, after rising 3.6 percent
last week.

“The markets might go slightly higher, but it’s not a great
week for economic data or corporate news,” Jeremy Batstone-Carr,
strategist at Charles Stanley, said.

“It’s fair to say equity yields, compared with bond yields,
are very attractive — but yields and prices are where they are
because investor sentiment has been on the back foot. The
probability of a double dip in Europe is close to 50 percent.”

Utilities featured among the top movers. German companies
E.ON (EONGn.DE: ) and RWE (RWEG.DE: ) rose 2 and 2.1 percent
respectively on hopes for billions of euros of extra profits
from a decision to extend the lifespans of nuclear power plants
in Europe’s biggest economy.
(Reporting by Brian Gorman)

Utilities push Europe shares to 4-wk closing high