European shares regain ground, boosted by earnings

EDINBURGH, July 29 Tue Jul 29, 2014 12:43pm IST

EDINBURGH, July 29 (Reuters) - European shares rose on Tuesday, with encouraging corporate results giving the stock market a boost to recoup the previous session's losses.

French telecom firm Orange rose 2 percent after it confirmed its annual profit target and managed to stabilise its margins in the second quarter.

The gains fuelled a 0.4 percent rise for the sector, which was the best performer in Europe.

Parts maker GKN rose 5.1 percent as growth in its car business offset currency headwinds, while Germany's Deutsche Bank and Swiss bank UBS both rose after posting profits that beat consensus forecasts.

The pan-European FTSEurofirst 300 was up 0.3 percent at 1,373.28 points by 0709 GMT, after having fallen 0.2 percent on Monday.

(Reporting by Alistair Smout; editing by Blaise Robinson)

 
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