Analysts Say European Shares Rise

Key currencies have held steady in European trading hours, with investors bracing for key event risks from U.K. and euro-zone central banks later in the day.

The Bank of England is due to announce the results of its monetary policy meeting at 1100 GMT, while the European Central Bank makes its announcement at 1145 GMT, with a press conference starting at 1230 GMT , Wall Street Journal reports.

However, caution ahead of the rate decisions prevented further gains in the currencies, though analysts said sentiment remained buoyant as European shares rose 1.1 percent , Reuters India reports.

Meanwhile, the yield on the two-year note increased 5 basis points to 1.47 percent by 7:52 a.m. in London. It reached 1.49 percent yesterday, the highest level since June 23. The 1.5 percent security due June 2011 lost 0.07, or 70 euro cents per 1,000- euro ($1,440) face amount, to 100.06 , Bloomberg reports.