Reuters logo
European shares open higher led by Casino; Burberry slumps
October 15, 2015 / 7:33 AM / 2 years ago

European shares open higher led by Casino; Burberry slumps

* FTSEurofirst 300 and Euro STOXX 50 both up 0.5-0.6 pct

* Casino, Unilever lead gainers after results

* Burberry slumps on first-half sales miss

MILAN, Oct 15 (Reuters) - European shares rose on Thursday following three days of losses, tracking gains in Asia on growing expectations the U.S. will delay any interest rate hike until 2016, with retailer Casino among the top performers.

The pan-European FTSEurofirst 300 index rose 0.6 percent while the euro zone’s blue-chip Euro STOXX 50 index gained by 0.5 percent.

Casino was the top gainer in the pan-European index with a rise of 7 percent as third quarter sales at the French retailer showed a marked improvement across all store formats in its home market.

Unilever rose 3.5 percent after it reported better than expected third-quarter sales, although it added that sluggish markets globally continued to weigh on its performance.

However, Burberry fell 9 percent after the company missed forecasts for first-half sales growth and highlighted an increasingly challenging environment for luxury sales, hit particularly by greater caution amongst Chinese customers.

Volkswagen rose 0.7 percent, shrugging off news that the German automotive watchdog KBA will force the carmaker to recall 2.4 million vehicles in connection with a emissions test rigging scandal. (Reporting by Danilo Masoni; Editing by Sudip Kar-Gupta)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below