Europe: Shares open higher

[LONDON] European shares nudged higher in early deals on Monday, though trading was characterized by thin volumes as a busy few weeks of earnings reports from top regional and US firms gets underway.

The pan-European STOXX 600 index rose 0.2 per cent, while the blue chips struggled to hold slim gains. Last week, European indices enjoyed their strongest week in more than two months as investors quickly bought the dip spurred by central banks turning slightly hawkish.

Second-quarter results season kicked off in the US last Friday with numbers from Citigroup and JPMorgan.

Analysts are expecting earnings to grow 9 per cent year-on-year for European firms, compared with 8 per cent for the US, according to Thomson Reuters I/B/E/S.

REUTERS