China boost for Alcatel and Total buoys European shares

jueves 27 de marzo de 2014 07:45 GYT

* China deals boost Alcatel Lucent and Total

* FTSEurofirst 300 index edges up by 0.1 pct

* H&M slides after profit warning

By Sudip Kar-Gupta

LONDON, March 27 (Reuters) - European equities edged higher on Thursday, lifted by a rise in telecoms equipment maker Alcatel and oil group Total which were both boosted by new Chinese deals.

The pan-European FTSEurofirst 300 index, which rose 16 percent in 2013 and hit a 5-1/2 year high in January, was up by 0.1 percent at 1,320.92 points in mid-session trading.

The euro zone's blue-chip Euro STOXX 50 index also inched up by 0.1 percent to 3,132.14 points.

Alcatel Lucent surged 5.6 percent, making the stock the best performer in percentage terms on the FTSEurofirst index, after it won a one-year contract worth up to 750 million euros ($1 billion) with China Mobile.

French group Total also rose 0.6 percent to hit a new high for 2014 after it won a Chinese deal, part of a series struck by leading French companies during a visit to Paris by Chinese President Xi Jinping.   Continuación...