Italian shares choppy as Draghi speaks
Energy supply hopes support sentiment
Uniper surges on bailout talks

July 20 Reuters European shares rose on Wednesday as energy supply worries eased following a report that Russian gas supplies would resume as scheduled, while Italian shares were volatile as Prime Minister Mario Draghi addressed the parliament.

Italy39;s MIB index was last down 0.2, after gaining as much as 0.7 earlier in the session. Draghi said he was prepared to stay on as Italian prime minister if the parties in his broad coalition threw their weight back behind him. A vote on his speech is expected after market closes at 1730 GMT.

Italian President Sergio Mattarella urged Draghi to reconsider his resignation tendered last week after the populist 5Star coalition boycotted a confidence vote, sending the MIB index to November 2020 lows.

Political instability and change will put more pressure on the financial sector and Italian bonds, said Ed Kevis, global equities fund manager at Aviva Investors. 

The panEuropean STOXX 600 index rose 0.2 in volatile trade, with some downbeat earnings pressuring gains.

Shares of chipmaker ASML Holding and Volvo Car fell 1.7 and 3.6, respectively, on bleak outlook. 

Secondquarter earnings are expected to increase 22.1 from a year ago, with a chunk of upbeat earnings expected from the energy sector. As many as 58 of the STOXX 600 companies that have reported so far this earnings season have topped estimates, according to…