* STOXX up 0.2 pct; France's CAC up 0.3 pct
* Precious metal miners up on stronger gold, Randgold update
* Well-received results support Telecom Italia, DKSH, Aker
* But Ryanair slips after poor fourth quarter update
(Adds details, update prices)
By Danilo Masoni
MILAN, Feb 6 European shares edged up in choppy
trade on Monday with better- than-expected corporate results
helping support the market, but a disappointing update at
Ryanair weighed on shares in the budget airline.
The pan-European STOXX 600 index was up 0.2 percent
by 1030 GMT, reversing initial weakness as stronger miners more
than offset weakness among auto stocks.
London-listed Randgold Resources rose 3.5 percent,
among the top gainers on the STOXX, after the gold miner posted
a 76 percent rise in fourth-quarter profit and said it would
raise its annual dividend.
Other precious metal miners were also in demand, with
Fresnillo and Centamin both up more than 1
percent, as gold prices gained for a third day, on technical
buying and a weaker dollar.
Their gains helped Europe's STOXX Basic Resources index
rise 0.8 percent, making it the biggest sectoral gainer
in the region.
Besides Randgold there were other well-received company
Shares in Telecom Italia rose 4 percent after
Italy's biggest phone group posted a better than expected rise
in full-year core earnings, helped by cost cuts and its domestic
operations returning to growth.
Mediobanca analyst Fabio Pavan affirmed his Outperform
rating on the stock saying the group's turnaround looked
impressive and growth in its Italian business was very strong.
Switzerland's DKSH soared 8.4 percent, leading
gainers on the STOXX and reaching their highest level since
April 2015, after the services firm's earnings growth and
dividend beat market expectations.
Aker BP rose 4.6 percent after the Norwegian oil
posted forecast-beating fourth-quarter earnings due to a one-off
$114-million income following a change in its pension scheme.
Ryanair however fell 2 percent after a poor fourth
quarter update. Average fares fell more than expected amid a
glut of capacity in Europe's short-haul aviation market, but
Europe's largest airline by passenger numbers said it remains on
track to post a modest increase in annual profits.
"Ryanair's trouble is that it has huge exposure to the UK
market and sterling, but earnings are booked in euros," said
Neil Wilson, senior market analyst at ETX Capital.
"The company's response to the drop in the pound - to
aggressively lower fares to grab market share while expanding
routes - doesn't help profits in the near term. But going
forward the growth in traffic will help put it on a surer
footing, particularly as it's also reducing costs."
On the DAX, Volkswagen fell 1 percent, after the
carmaker was sued by its first big German customer over its
Its fall weighed on Europe's STOXX Auto index, which
fell 0.3 percent, making it the biggest sectoral faller.
France's CAC rose 0.3 percent, shrugging off
investor concern about the country's presidential election,
which instead weighed on its government bonds.
France's small-mid cap index was little changed.
(Editing by Jeremy Gaunt.)