European shares rise as investors await big bank earnings

European shares edged higher on Monday with investors bracing for earnings reports from several big banks later in the week, while Portuguese oil firm Galp soared to a 16-year high following a positive update to its gas exploration in Namibia.

The pan-continent STOXX 600 (.STOXX) was up 0.2% by 0828 GMT, supported by a 0.3% gain in banking stocks (.SX7P).

Earnings reports from European lenders will be in the spotlight this week as investors are likely to get a clearer picture of whether higher interest rates are still boosting profits or if a year-long share price rally will run out of steam.

JPMorgan European Discovery Trust plc (LON:JEDT) is an investment trust company. The Investment Trust JEDT objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom.

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