German DAX outperforms broader European markets
ECB to debate 50basispoint hike at Thursday meeting
France to pay 9.7 bln euros to take full control of EDF

July 19 Reuters European shares hit more than a fiveweek high on Tuesday after a report that Russian gas flows to Europe via the Nord Stream 1 pipeline are seen restarting on time allayed some concerns about an energy supply crunch on the continent.

The sources told Reuters the pipeline, which accounts for more than a third of Russian natural gas exports to the European Union, was expected to resume operation on Thursday, but at less than its capacity of some 160 million cubic metres per day. 

Earlier on Tuesday, the Wall Street Journal reported, citing European Budget Commissioner Johannes Hahn, that the European Commision did not expect the pipeline to restart after the scheduled maintenance.

The energy crisis is one of the biggest worries for Europe39;s investors and citizens…. Having a stable source of energy as opposed to an unstable source is certainly a meaningful piece of news, said Steve Sosnick, chief strategist at Interactive Brokers.

The panEuropean STOXX 600 index closed 1.4 up at its highest level since June 10, logging its third consecutive day of gains.

It fell as much as 0.7 earlier in the session on worries about a hawkish European Central Bank and slowing economic growth.

Sources told Reuters ECB policymakers are considering raising interest rates by a biggerthanexpected 50 basis points…