Fri, 04 Jun 2010 10:27:00 +0200

European shares pushing 5th straight day of gains

FXstreet.com (Barcelona) - Pushing a 5th straight day of gains, the European session has begun the day strong advancing ahead of key data reports in the coming hours. Within the first hour of trading, the German DAX leads the group up nearly 50 points or 0.81%, while the FTSE 100 and CAC 40 follow right behind at 0.79% and 0.76%.

Investor optimism has been roughly higher this week as focus turned back to fundamental data reports, putting aside uncertainties over the euro zone for the time being. The energy-sector is providing the biggest gains in the market today, with BP shares trading higher as reports come in of the oil giant moving forward in efforts to control the oil spill in the Gulf of Mexico.

In the coming hours, a slew of fresh reports will be closely watched including EMU GDP numbers over the month and year. What’s more, important jobs data is to be released for North America including monthly unemployment rates for both Canada and the US along with nonfarm payrolls in the US.