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European shares rise after Fed mins; LVMH rallies

Reuters - UK Focus

PARIS, April 10 (Reuters) - European shares rose early on Thursday after minutes from the U.S. Federal Reserve's latest policy meeting suggested the central bank may be more cautious towards raising rates than investors had anticipated.

Shares in LVMH (TLO: LVMH.TI - news) surged 3.4 percent, the top blue-chip gainer across Europe, after the world's biggest luxury group said its fashion and leather division rose 9 percent, beating analysts' expectations and reassuring investors on the impact from turmoil in emerging markets.

At 0707 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,343.08 points.

The Fed's minutes, released on Wednesday, fuelled a rally on Wall Street with all three major U.S. stock indexes ending up more than 1 percent, and weighed on the dollar. The market pushed out expectations of a first Fed rate hike by about six weeks, to July 2015, trading in interest-rate futures showed. (Reporting by Blaise Robinson; Editing by Gareth Jones)