FTSE 100 up 0.4, FTSE 250 adds 0.6
Real estate stocks gain after Nationwide industry report
British parliamentary elections in focus

July 1 Reuters London stocks kicked off the week on an upbeat note, supported by real estate shares and tracking gains from the European market amid a revival in hopes of rate cuts globally.

The bluechip FTSE 100 was up 0.4, on track to snap a foursession losing streak. The midcap FTSE 250 was up 0.6 at 0730 GMT.

Over the weekend, the firstround voting in France39;s shock snap election was won by the far right.

There39;s just optimism that maybe the French election didn39;t pan out so far as badly as feared. And that39;s lifted the mood across the continent, said Fiona Cincotta, senior market analyst at City Index.

We39;ve also got that optimism stemming from Friday39;s US core PCE and that the Federal Reserve might start cutting interest rates sooner.

The personal consumption expenditure report in the U.S. on Friday showed that inflation was in line with expectations.

The panEuropean STOXX 600 was last up 1.1.

In the London market, real estate stocks were among the top gainers with a 1.2 rise after a Nationwide report showed British house prices showed a small gain in June from May but the impact of higher interest rates still weighed on the property market.

Real estate investment trusts REITs gained 1.3.

Britons are headed towards the domestic parliamentary elections on Thursday, which opinion polls suggest will see Labour…