STOXX 600 up 0.3
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May 3 Reuters European shares rose on Friday as investors cheered earnings from French banks Societe Generale and Credit Agricole, while the technology sector got a boost from Apple39;s upbeat results and a record share buyback.

The panEuropean STOXX 600 index rose 0.3 by 0830 GMT. However, it was set for a weekly decline, as investors navigated the earnings season in full drive and the European Central Bank39;s policy outlook beyond June.

Investors await the euro zone39;s unemployment rate and the U.S. nonfarms payrolls data during the day for clues on the timing of commencement of rate cuts.

The economic environment39;s picking up a bit in the euro zone, but not massively… they are going to be cutting rates more than the state, but not half as much as people thought a few months ago, said Rupert Thompson, chief economist at Kingswood Group.

ECB policymaker Yannis Stournaras indicated three rate cuts this year as strongerthanexpected economic growth supports inflation, while chief economist Philip Lane noted the central bank should accumulate data before each cut.

Societe Generale jumped 4.6 following a lowerthanexpected fall in firstquarter net income, while Credit Agricole SA climbed 3.4 after a forecastbeating 55 jump in firstquarter net profit.

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