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Atos choppy after restructuring offers, warns of share

dilution

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Demant ( WILLF ) shares fall after Q1 sales miss

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PostNL falls after Q1 miss, Mail volumes drop

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Maurel jumps after receiving Specific License in Venezuela

(Updated at 0830 GMT)

By Ankika Biswas

May 6 (Reuters) - European shares rose on Monday, with

investor optimism over interest rate cuts from major central

banks back to the fore, while Spanish defence and technology

firm Indra jumped following a strong first-quarter profit.

The pan-European STOXX 600 was up 0.3% as of 0830

GMT. UK equities are closed due to a bank holiday.

Supporting sentiment, a media report showed European Central

Bank Chief Economist Philip Lane noted a stronger case for a

June rate cut on easing services inflation, while Friday's

softer-than-expected U.S. jobs report renewed bets of the

Federal Reserve most likely easing rates this year.

"Data is stacking up quite nicely for the ECB, but the

situation for the Fed is that they have to wait longer and see

how economic data pans out," said Michael Field, European market

strategist, Morningstar.

Energy was among the top sectoral gainers as oil

prices rose after Saudi Arabia hiked June crude prices for most

regions and as prospects of a Gaza ceasefire deal appeared slim.

European stocks have lost some of their shine from the

start of the year due to a few uncertainties, including the

health of European businesses, the Middle East tensions and the

ECB's policy outlook beyond June.

The STOXX 600 is up around 6% year-to-date, lagging the

more than 7% rise in its U.S. benchmark peer S&P 500,

whose rally has also stalled due to uncertainties, including

over when the Fed could start cutting rates.

Goldman Sachs raised its 2024 earnings growth forecast for

STOXX 600 companies to 6% from 3%, citing higher commodity

prices, stickier inflation, a weaker currency and stronger

economic growth.

"This earnings season has been mostly along

expectations, no huge surprises ... But valuations are quite

high, so whenever there's any kind of blip or any bit of

information, people are seemingly kind of overanalyzing it,"

Morningstar's Field said.

Indra jumped 7.2% after posting a 40% rise in

first-quarter net profit, supported by strong orders as global

tensions spur demand for air defences.

Maurel et Prom rose 8.3% after the French oil

group got a specific license for its operations in Venezuela.

Atos fell 5.2% in volatile trading, with the

debt-laden French IT company announcing four investor offers for

debt restructuring and cash infusion, saying any restructuring

would likely to "lead to a massive dilution of existing

shareholders".

Dutch postal firm PostNL dropped 3.5% after a

wider-than-expected first-quarter loss. Germany's logistics

giant Deutsche Post ( DPSTF ) shed 3.6%.

Danish hearing aid maker Demant A/S ( WILLF ) fell 3.6%

after a first-quarter sales miss.