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European shares rise 2 LONDON
effect of high price on non Published in Saudi Press Agency on 30 - 05 - 2005


oil stocks is now seen as limited.
"Oil doesn't have the same effect as it did earlier in the year in Europe. Unless it shoots through $58 a barrel it is not going to have the same impact," said Bill O'Neill, strategist at JP Morgan Fleming Asset Management.
"The weakening currency is the issue."
Royal Dutch/Shell rose 1.4 percent, also aided by Russian gas monpoly Gazprom saying it was looking to acquire a 25 percent plus one share in the Shell-led Sakhalin Energy project in Russia's far east.
Shares in global news and information company Reuters Group
added 2.8 percent, spurred on by upbeat analyst comment from Dutch bank ABN AMRO and U.S. investment bank JP Morgan. --More 1405 Local Time 1105 GMT

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