UPDATE 1-STOXX 600 climbs over 1% on rate-cut optimism [Yahoo! Finance]
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Source: Yahoo! Finance
SocGen up on $795 mln unit sale in Morocco Varta slumps as its restructuring plans would fail Euro hits five-month low STOXX 600 gains 1.1% (Updated at 0850 GMT) By Johann M Cherian and Ozan Ergenay April 12 (Reuters) - European shares rose to over a week's high on Friday, with major indexes that use the euro as the common currency trading in the green, as investors turned optimistic after the European Central Bank hinted that it could begin interest rate cuts as soon as June. The pan-European STOXX 600 gained 1.1%, while the blue-chips index gained 1% as of 0850 GMT. Stocks in major regional economies, such as Germany , France, Spain and Italy, gained more than 1% each. "Obviously, with the ECBs comments yesterday, everyone's assuming it is 100% guaranteed that a June rate cut is going to happen," said Gene Salerno, chief investment officer at SG Kleinwort Hambros. The basic resources index led sectoral gains, with its 2.8% rise, its fifth straight week in gains,
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