On Friday, European shares rose slightly, a day after they dropped on a less-dovish-than-expected European Central Bank statement, buoyed by a rally in mobile operator Vodafone and media firm Vivendi. The pan-European stock benchmark index rose 0.1 per cent by 0711 GMT.
Last month, the ECB disappointment stems from strongly dovish notes major central banks had struck that spurred a rally in stocks as investors hoped for policy easing as soon as the next meeting. Focus now shifts to the US Federal Reserve, which is expected to cut rates by at least a quarter basis point next week.
Shares of Vivendi rose 4 per cent after stellar first-half results at its Universal Music Group raised the stakes for the sale of the French media giant’s most-prized asset.
Meanwhile, Vodafone also jumped 7.3 per cent on plans to move its mobile mast operations in 10 European markets into a new company that it potentially could list.