MILAN (Reuters) - European shares rose to six-week highs in early deals on Monday following a strong session in Asia overnight and supported by gains among financial and industrial stocks.
While the pan-European STOXX (STOXX) index was up 0.6 percent by 0725 GMT, Portuguese stocks outperformed after the euro zone country returned to an investment grade rating after 5-1/2 years, boosting its bonds.
Portugal's PSI 20 (PSI20) index rose 1.8 percent to an eight-week high and was set for its biggest one-day gain since mid-July, with shares in bank BCP Millennium (LS:BCP) up 5 percent.
Among the biggest gainers on the STOXX were utilities EDF (PA:EDF) and Fortum (HE:FORTUM), up 4.7 percent and 3.7 percent respectively, after both were upgraded by Goldman Sachs (NYSE:GS).
Ryanair (I:RYA) was a weak spot, down 2.7 percent following its announcement of plans to cancel between 40 and 50 flights per day until the end of October, disrupting hundreds of thousands of journeys.