European shares: European shares seen up on hopes for low rates, UK election in focus

Europeans stocks are seen on the rise mirroring Asian stocks, which rose amid speculation that interest rates will remain low due to receding inflationary pressure, while the pound shoots up after Boris Johnson emerged stronger from local elections.

Sterling is at its highest in more than two months against the dollar after local elections, but worries about Scottish independence could curb sterling’s gains.

Scottish leader Nicola Sturgeon told PM Johnson that another referendum on independence was inevitable after her party won a resounding election victory.

In the meantime, Sadiq Khan from Britain’s opposition Labour Party was re-elected Mayor of London on Saturday, comfortably defeating Shaun Bailey from Prime Minister Boris Johnson’s Conservative Party.

Oil and gas prices jumped after a cyber attack on a U.S. pipeline operator unnerved markets.

U.S. nonfarm payrolls data on Friday showed jobs growth unexpectedly slowed in April, which gave equities a lift.