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Europe: Shares propped up by gains at Credit Suisse

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[LONDON] European shares rose on Wednesday, stabilising after a pullback in the previous session following deadly attacks in Brussels, with Credit Suisse climbing after announcing more cost cuts.

The pan-European FTSEurofirst 300 index rose 0.4 per cent, while the euro zone's blue-chip Euro STOXX 50 index advanced 0.6 per cent.

Credit Suisse rose 3.2 per cent after it announced 800 million Swiss francs ($821 million) in additional cost cuts and plans to shrink its investment bank further as it spurs a restructuring plan aimed at revitalising its earnings.

Technology group Hexagon also rose after Morgan Stanley raised its rating on the stock to "overweight" from"equal weight", but gambling group William Hill slumped 13 per cent after warning of lower profits.

REUTERS

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