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May 6 Reuters European shares rose on Monday, with investor optimism over interest rate cuts from major central banks back to the fore, while Spanish defence and technology firm Indra jumped following a strong firstquarter profit.

The panEuropean STOXX 600 was up 0.3 as of 0830 GMT. UK equities are closed due to a bank holiday.

Supporting sentiment, a media report showed European Central Bank Chief Economist Philip Lane noted a stronger case for a June rate cut on easing services inflation, while Friday39;s softerthanexpected U.S. jobs report renewed bets of the Federal Reserve most likely easing rates this year.

Data is stacking up quite nicely for the ECB, but the situation for the Fed is that they have to wait longer and see how economic data pans out, said Michael Field, European market strategist, Morningstar.

Energy was among the top sectoral gainers as oil prices rose after Saudi Arabia hiked June crude prices for most regions and as prospects of a Gaza ceasefire deal appeared slim.

European stocks have lost some of their shine from the start of the year due to a few uncertainties, including the health of European businesses, the Middle East tensions and the ECB39;s policy outlook beyond June.

The STOXX 600 is up around 6 yeartodate, lagging the…