Robust earnings spur European stocks higher

martes 28 de octubre de 2014 11:29 GYT
 

* FTSEurofirst 300 up 0.9 pct

* UBS, Novartis among heavyweight risers after results

* So far, two-third of companies meet/beat forecasts

* Sanofi, StanChart and Saipem all slump after earnings (Adds detail, quotes)

By Alistair Smout

EDINBURGH, Oct 28 (Reuters) - European shares rose in early trade on Tuesday, reversing the previous session's dip as better-than-expected results from a number of blue-chips including pharma group Novartis and bank UBS helped lift sentiment.

Gains in Europe were spurred by the German DAX, up 1.7 percent, and peripheral euro zone markets, with Spain's IBEX up 1.8 percent and Italy's FTSE MIB 1.7 percent higher.

The French CAC and Britain's FTSE gained only 0.5 percent, hit by steep falls in French pharmaceutical Sanofi and UK-listed Standard Chartered Bank after they reported results that missed expectations.

In general stronger corporate reports helped the pan-European FTSEurofirst 300 rise 1 percent to 1,317.99 by 1214 GMT.   Continuación...