European shares rise after four sessions of losses

European stocks ended the four sessions of losses and closed higher on Monday, driven by banking stocks and a good thing for U.S. consumption, but failed to rise above a key technical level. The FTSEurofirst 300 index of top European shares rose 1.3 percent to 1026.68 points, while the Euro Stoxx 50 index rose 1.5 percent to 2668.67 points. Shares of Barclays, Deutsche Bank and BNP Paribas rose between 1.5 and 3.6 per cent, thanks to the Group of 20 relaxed the deadlines for complying with new rules of capital. Shares of Standard Chartered broke the trend, falling 1.8 percent after the lender said the recent economic uncertainty, hurt his business. Spending by U.S. consumers rose slightly in May, but something more than expected, although the savings of people peaked in eight months, suggesting that the recovery is on firm. "This week could be pretty good after the decline that we saw last week. People will continue to focus on data, especially in the price index for housing at Standard & Poor's / Case Shiller tomorrow (Tuesday) and the creation non-agricultural employment in the United States on Friday, "said Heino Ruland, strategist at Ruland Research. But the Euro STOXX 50 index failed to close on a key technical level, in a sign that the shares could resume their recent fall. "We are still trading below the 200 day moving average (the Euro STOXX 50), reflecting the weakness of the rebound. If the markets go that level the impetus for the market seem more solid," said Mike Lenhoff, chief strategist Brewin Dolphin. Among the individual increases, Telenor shares gained 4.9 percent after Merrill Lynch BofA raised its rating to "buy 'from' neutral ', noting that the telecommunications company is exposed to the best trends. (By Harpreet Bhal