Upbeat growth forecasts lift European stocks

Traders in Dublin said that all sectors bar one were up on what was a low volume session with travel, leisure and gaming stocks leading the charge.

Shares in Cineworld climbed more than 16 per cent on Monday after reports that Vue International, Europe’s largest privately owned cinema operator, has obtained financial backing from its new shareholders as it eyes up a takeover bid for the debt-laden cinema operator. British home builders Crest Nicholson, Taylor Wimpey, Persimmon and Barratt Developments fell between 1 per cent and 3 per cent after Deutsche Bank downgraded the stocks.Optimism over European growth prospects pushed equities indexes higher on Monday with the pan-European Stoxx 600 up more than 0.8 per cent, more than any closing gain since the start of February.

In France, the Cac 40 index added more than 1.1 per cent, buoyed by L’Oreal, which continued its strong start to the year, gaining 3.2 per cent. Shares in the cosmetics giant are up close to 2 per cent after reporting strong fourth quarter sales last week. In Germany, the Dax index climbed 0.5 per cent, pushed higher by industrials Henkel and Airbus as well as pharma giant Bayer, which all added between 1.2 per and 1.9 per cent.

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