Schroders leads European shares higher into month-end
LONDON, June 28 (Reuters) - European shares opened marginally higher on Friday, with trading expected to be subdued as investors avoid making large bets at the end of a volatile quarter and ahead of more U.S. economic data.
By 0708 GMT, the FTSEurofirst 300 was up 3.44 points, or 0.3 percent, at 1,160.86, with the index on course to suffer its first monthly loss in a year, despite having rallied around 3 percent from Monday's lows.
"We are higher on window dressing for the month/quarter/half-year end," Jawaid Afsar, sales trader at SecurEquity, said.
He said that having bounced off Monday's year lows, a hold above the 200-day moving average could be enough to see indexes push higher.
He targeted a return to the 6,400 level on Britain's FTSE 100 over the next few sessions after central bankers globally sought to defuse concerns over slowing support for the global economy.
Rising markets continued to benefit financials, with asset manager Schroders, up 3.2 percent, the top gainer among European shares, also aided by an upgrade from Exane BNP Paribas to "outperform".
Heavyweight telecoms firm Vodafone rose too, up 0.7 percent,
The stock was helped by Deutsche Bank's upgrade to "buy" and reports that John Malone, chairman of Liberty Media, is sounding out options for cable operator Charter Communications to acquire larger rival Time Warner Cable, which analysts said could be good news for Vodafone as it potentially means it will not be forced to raise its bid further for Kabel Deutschland.