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European shares inch higher; Julius Baer jumps

Reuters - UK Focus

PARIS, Feb 2 (Reuters) - European shares inched higher in early trading on Monday, starting the new month on a positive note following sharp gains in January, with Julius Baer (Other OTC: JBARF - news) rallying after unveiling a cost cutting plan.

Shares (Berlin: DI6.BE - news) in the Zurich-based private bank rose 7.7 percent after saying it has launched a roughly 100 million Swiss franc ($108.03 million) cost savings programme in response to the recent appreciation of the Swiss currency.

At 0808 GMT, the FTSEurofirst 300 index of top European shares was up 0.1 percent at 1,465.80 points. The benchmark posted its best monthly performance in over three years in January, rising 7.1 percent. (Reporting by Blaise Robinson; Editing by Lionel Laurent)