European stocks opened higher on Monday, May 6, as investors became more optimistic about global interest rate cuts, while Spanish engineering technology company Indra jumped after posting strong first-quarter earnings.
The pan-European STOXX 600 index rose 0.2% by 0720 GMT, led by energy stocks, which rose amid a rise in oil prices after Saudi Arabia raised its June crude selling prices for most regions and amid dim prospects of a ceasefire in Gaza.
Stock markets in Britain are closed for a bank holiday.
Indra shares jumped 8.5% after the company's first-quarter net profit rose about 40%, helped by strong orders for air defense technology that were boosted by global tensions.
Shares in debt-laden French IT company Atos gained 4 percent after announcing four distinct offers from investors to restructure debt and inject capital into the company.
Dutch postal service PostNL fell about 3.5% after a larger-than-expected loss in the first quarter, while German logistics giant Deutsche Post AG fell nearly 4%.
A media report showed that the European Central Bank's chief economist, Philip Lane, indicated a stronger case for a rate cut in June due to the slowdown in the service sector inflation, while a weaker-than-expected US jobs report on Friday renewed bets that the US Federal Reserve will likely cut interest rates this year.
