European shares edged upwards on Thursday, hugging three-year highs, supported by expectations of lower interest rates. Global bank HSBC led the way after its affiliate, China's Bank of Communications, rose in Hong Kong on its first day of trading. Oil prices also rose after a two-day retreat, staying within sight of $60 a barrel, but traders said their relatively lower levels should support equities. "U.S. light crude has traded as low as $58 a barrel overnight and although there's been an upward reversion in recent trade, these lower prices should offer support for equities across the board in early trade," said Matt Buckland, a trader at CMC Group. "However, the likes of Shell and BP can expect to find themselves under a degree of pressure." The DJ Stoxx oil & gas index was the weakest sector in the market. BP fell 0.6 percent. At 0710 GMT, the FTSEurofirst 300 index was 0.16 percent higher at 1,148.3 points. --More 1220 Local Time 0920 GMT
