Tech boosts European shares on Nokia, Infineon results

martes 29 de abril de 2014 10:17 GYT

* FTSEurofirst 300 up 1.1 pct, Euro STOXX 50 up 1.3 pct

* Infineon, Nokia lead tech share rally after good results

* Earnings also boost Deutsche Bank, Statoil (Adds quote, details, updates prices)

By Alistair Smout

LONDON, April 29 (Reuters) - European shares rose on Tuesday, led by tech stocks as estimate-topping results from chipmaker Infineon and telecommunication gear maker Nokia brightened the outlook for the sector.

Infineon and Nokia were among the top risers on the pan-European FTSEurofirst 300 index after they reported quarterly earnings boosted respectively by demand from automotive and industrial customers and by software deals.

The STOXX Europe 600 Tech index was up 1.7 percent, a top sectoral riser. Telecom equipment maker Alcatel Lucent , for example, added 2.8 percent.

While demand drivers vary between different companies, Nokia and Infineon's strong numbers helped improve sentiment around the sector as a whole, which had been dented by weak updates from ASML, Ericsson and SAP earlier this month.

Exposure to industrial demand helped Infineon in comparison to the likes of SAP, Frederique Carrier, director of European Equities at RBC Wealth Management, said. She said it was too early in the earnings season to get overly optimistic.   Continuación...