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Date: Friday 02 May 2008

LONDON (ShareCast) - European stocks were on the rise, tracking gains on Wall Street overnight, with airliners benefiting from falling oil prices.

ING was higher on news that the Dutch financial-service provider has agreed to buy US pensions and benefits administrator CitiStreet.

Infineon Technologies increased after the US-based Semiconductor Industry Association said that global semiconductor sales had risen strongly in March.

Shares in BMW gained after the carmaker’s US sales rose by 9.6% in April helped by new models.

France-KLM and Lufthansa advanced in early dealings as crude prices moved back from last week's record high of nearly $120 a barrel.

The German Dax rose 78 points to 7,027, the French CAC is up 54 points to 5,050, while the Swiss market added 110 points to 7,639.

In economic news, the euro zone purchasing managers index was revised down to a final 50.7 in April from a provisional estimate of 50.8 and down from 52.0 in March.