European shares set for monthly gains, helped by Fed rate cut bets

Nov 28 (Reuters) - European shares inched higher on Friday, poised for their fifth consecutive month of gains, as rising bets of a U.S. interest rate cut lifted the index.

The pan-European STOXX 600 .STOXX was up 0.1% at 575.28 points by 0802 GMT, on track for its best weekly showing since early October. It is also set for the longest monthly winning streak since March 2024.

Major regional bourses in London .FTSE and France .FCHI added 0.1% each.

Energy stocks .SXEP were the biggest gainers on the benchmark, up 0.3%, tracking higher oil prices. The rise was offset by declines in heavyweight banks .SX7P, down 0.1%.

Investors refrained from making major bets heading into the weekend, with a holiday-shortened U.S. market session on Friday.

As November draws to a close, concerns about an AI-driven market bubble have eased, with investors focusing on the growing likelihood of a Federal Reserve rate cut next month instead, after dovish comments from policymakers and weak economic data.

Delivery Hero DHER.DE shares jumped 5.6% after a report said investors are pushing management to consider a sale of the company or divest parts of the business.