European shares inch up on earnings news but Fiat skids

miércoles 7 de mayo de 2014 12:54 GYT
 

* FTSEurofirst 300 ends steady after choppy trading

* Results from Credit Agricole, Henkel support

* Fiat slips on scepticism over a new business plan

By Atul Prakash

LONDON, May 7 (Reuters) - European equities inched higher on Wednesday as positive company earnings narrowly outweighed a sharp fall in Fiat shares over scepticism about its new business plan.

The FTSEurofirst 300 index of top European shares ended 0.1 percent up at 1,344.65 points after falling earlier in the day to 1,337.75, the lowest since late April.

Credit Agricole, France's third-biggest listed bank, rose 6.8 percent to top the FTSEurofirst 300 leader board after reporting a 30 percent rise in net income in the first quarter.

Germany's Henkel climbed 5.4 percent after beating expectations with results, while Coloplast gained 4.3 percent after surpassing forecasts and raising its revenue outlook.

"European earnings have not been as good as U.S. company results in the first quarter, but their medium- to longer-term outlook is positive," Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, said.   Continuación...