May 28, 2012- Euro Shares Advance on Greece Optimism

European shares rose on Monday, as opinion polls showing a lead for Greece's pro-bailout conservatives and reports that Europe is preparing a new rescue fund to seize control of struggling banks across the continent lifted investor sentiment. However, trading volumes remain thin due to holidays in the U.S. and in part of Europe. Monday is a public holiday in Germany and France, although their markets are open for trading. The Euro Stoxx 50 index of eurozone bluechip stocks is gaining 0.89 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is moving up 0.65 percent. Around Europe, the benchmark German DAX is gaining 0.94 percent, France's CAC 40 is up 1.14 percent, the U.K.'s FTSE 100 is adding 1.05 percent and Switzerland's SMI is posting a modest 0.2 percent gain. Shares of Rolls-Royce are moving up 1.4 percent in London after the company said it has secured contract extensions, which will see the company provide ongoing support for engines on the UK's C-130 Hercules transport and VC10 tanker fleets.