23 de julio de 2015 / 8:24 / en 2 años

European shares steady as Credit Suisse results beat expectations

* FTSE 300 up 0.1 pct

* Credit Suisse gains 5 pct

* Earnings season gathers pace

By Liisa Tuhkanen

LONDON, July 23 (Reuters) - European shares edged higher on Thursday as Credit Suisse, Unilever and others reported better-than-expected results, as the quarterly earnings season accelerated in Europe.

The FTSEurofirst 300 index of top European shares was up 0.1 percent at 1,587.57 points by 0754 GMT. It fell 0.6 percent in the previous session, dragged down by tech stocks after Apple Inc’s revenue forecast fell short of estimates.

Credit Suisse Group AG was the top gainer, up 5 percent, after it posted better-than expected earnings and improved its capital cushion ahead of a strategy shake-up under the Swiss bank’s new chief executive.

Another Swiss company, the Zurich-based power and automation firm ABB rose 3.7 percent, its best day since January 2014, despite reporting falling profits as the figure still beat analyst expectations.

Among other gainers, Unilever added 1.9 percent after reporting higher-than-expected second-quarter sales on Thursday, driven by increases in its home and personal care businesses.

“Markets are in general regaining their composure... The earnings disappointments in the U.S. are being absorbed in Europe, largely down to the fact that valuations are not excessive,” said Vincent Guenzi, portfolio manager at Cholet Dupont.

“What we are still missing is evidence of forecast upgrades on the back of the earnings season - it’s still a bit early for that.”

Aberdeen Asset Management was the biggest faller on the blue-chip pan-European index, down 6.3 percent after the emerging markets-focused fund manager said it saw net outflows of 9.9 billion pounds ($15.5 billion) during the quarter ended June 30 as institutional investors cut exposure to Asia and emerging markets equities.

Also on the downside, SSE fell 4.3 percent after the British energy supplier said it expected lower profits from its retail business this year.

Europe bourses in 2015: link.reuters.com/pap87v

Asset performance in 2015: link.reuters.com/gap87v

Today’s European research round-up (Editing by Hugh Lawson)

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