European shares rose on Tuesday, shrugging off losses in Asia, while the dollar regained its footing as investors looked to a speech by Federal Reserve Chair Janet Yellen for clues to the interest rate outlook following weak U.S. data, Reuters reported. The pan-European Eurofirst 300 stock index rose 0.6 percent, with insurers among the gainers after positive broker comments. Britain's FTSE 100 index added 0.8 percent, The dollar, which slipped on Monday on the soft data, rose 0.2 percent against a basket of currencies. The euro fell 0.1 percent to $1.1178 while the Japanese yen fell 0.2 percent to 113.62. Brent crude oil dropped 62 cents to $39.65. A preliminary Reuters survey of analysts showed U.S. oil stockpiles measured by the American Petroleum Institute were expected to reach record highs. Gold dipped but held above a one-month low hit on Monday as the weak U.S. data dented prospects of an immediate U.S. rate hike. The metal traded at $1,216.70 an ounce.
