European shares fall as more ECB rate hikes likely

The Irish index of shares rose 1.3 per cent in trading on Monday. Photograph: Timothy A Clary/AFP via Getty Images European shares bid farewell to their initial momentum on Monday after European Central Bank officials backed the need for more interest rate hikes, while investors assessed the lower than expected rebound in euro zone January retail sales. Dublin The Irish index of shares rose 1.3 per cent in trading on Monday, bucking wider trends as banking shares and travel stocks lent some support. Bank of Ireland shares climbed 1.5 per cent to €10.44 by the close, while AIB gained almost…