STOXX 600 rises 0.1
More U.S. earnings due later this week
Britain39;s Wood Group jumps on buyout proposal
Rovio up on Sega buyout plan

April 17 Reuters European shares inched up on Monday as investors remained optimistic about U.S. corporate earnings this week, while awaiting more economic data to assess the health of euro zone economies.

The panEuropean STOXX 600 index inched up 0.1, after hitting its highest in over a year last week, while the bluechip STOXX50 index hit a 22year peak.

Ratesensitive technology shares fell 1.2 tracking overnight losses on Wall Street, while banking shares, which were the biggest gainers on Friday, fell 0.3 .

Investors will closely monitor a slew of earnings reports led by Goldman Sachs, Morgan Stanley and Bank of America due later in the week.

Last week, Citigroup Inc, JPMorgan Chase Co and Wells Fargo Co beat earnings expectations, benefiting from rising interest rates and easing fears of stress in the banking system.

Cautious optimism is the Monday motivation mantra, as stronger U.S. corporate news and signs of consumer resilience help to mask ongoing worries about the knockon effect of higher interest rates, said Susannah Streeter, head of money and markets, Hargreaves Lansdown.

Meanwhile, money market participants now see a 64 chance of the Fed hiking its key benchmark rate by 25 basis points in May, according to the CME Group39;s Fedwatch tool, after last week39;s mixed U.S. economic data.

Commentary from European…