French stocks lead Europe higher on positive company results

jueves 30 de octubre de 2014 04:56 GYT
 

* FTSEurofirst 300 0.6 pct, France's CAC up 1 pct

* Alcatel Lucent and Renault lead gains after updates

* Germany's VW, Bayer also boosted by results but Linde plunges

By Francesco Canepa

LONDON, Oct 30 (Reuters) - French stocks Alcatel Lucent and Renault led a rise in European shares on Thursday after posting upbeat corporate updates.

Auto-maker Renault upgraded its European auto market growth forecast and telecoms equipment maker Alcatel-Lucent improved its gross profit margin in the latest quarter.

Their shares were up 5 percent and 11 percent, respectively, by 0836 GMT, with France's benchmark CAC 40 index up 1 percent.

Despite a rebound in the past two weeks, the CAC is still down nearly 10 percent from a six-year peak hit in June, hit by weak growth in the euro zone's second largest economy.

"You hear so many bad things about France but I think that's in the price by now", Markus Huber, a senior trader at Peregrine and Black said.   Continuación...