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Technology, financial stocks lead sectoral gains

Jan 22 Reuters European shares rose on Monday as they tracked a Wall Street rally that drove the benchmark SP 500 to a record peak in the previous session, while investors awaited the European Central Bank39;s policy decision due this week.

The panEuropean STOXX 600 index was up 0.6, as of 0910 GMT, following a 1.5 decline last week.

The SP 500 index scaled a record high on Friday, the first in two years, fuelled by a rally in U.S. chipmakers and heavyweight technology stocks.

Technology stocks in the euro zone climbed 1.4 on Monday, and led gains among sectoral indexes.

Adding to the sector39;s gains, ASML Holdings rose 2.5 after Bernstein upgraded the Dutch semiconductor equipment maker39;s rating to outperform from marketperform.

Yield on the benchmark German 10year government bond also moved lower, last standing at 2.280, helping the bounce in equities.

Investors are waiting for the ECB39;s monetary policy decision, due on Jan. 25, to ascertain the timing of interest rate cuts from the central bank.

No new policy decision is expected, but the market would be looking for any clues around the first rate cut, said Mohit Kumar, chief economist Europe at Jefferies.

We expect Lagarde to stress the data dependent nature of the policy and indicate that it would be premature to start…