Post: European Shares Advance on Rate Optimism

European shares rose on Thursday amid optimism around US interest rate cuts following soft economic data, while London markets gained as voting began in the UK. The pan-European STOXX 600 index (STOXX), opens new tab rose 0.3 percent, led by a 1.3 percent rise in the automobiles and parts sub-index (SXAP), opens new tab. The UK's FTSE 100 (FTSE), opens new tab advanced 0.5 percent, with markets waiting to see how large a majority the Labour Party might win. On the flip side, Roche (ROG.S), opens new tab dropped 2.3 percent after it announced plans to halt a trial for its experimental lung cancer drug due to lackluster results. Sweden's Ericsson (ERICb.ST), opens new tab slipped 1.5 percent after the telecoms equipment maker recorded another impairment charge of 11.4 billion Swedish crowns (USD 1.09 billion) in the second quarter of 2024. Source: Qatar News Agency