Europe shares rise on upbeat earnings, Bundesbank talk

martes 13 de mayo de 2014 07:15 GYT

* FTSEurofirst 300 up 0.2 percent, hits 6-year high

* Traders cite report Bundesbank would back new ECB measures

* Profit-taking hits peripheral stocks after outperformance

By Blaise Robinson

PARIS, May 13 (Reuters) - European stocks rose on Tuesday, with a number of benchmarks hitting multi-year highs, boosted by upbeat company results and a report saying Germany's central bank is ready to back new stimulus measures from the European Central Bank.

Airbus Group surged 6.7 percent in a relief rally after it reported better-than-expected profits and said its latest jetliner, the A350, was "progressing towards certification" in time for first delivery by the end of the year.

Shares in ThyssenKrupp also surged, up 4.4 percent after the German steelmaker posted its first quarterly net profit in two years, beating analyst estimates, and raised its forecast for full-year operating profit.

Roughly three quarters of the way into the European earnings season, STOXX 600 companies have posted on average a 2.5 percent rise in profits and a 0.7 percent rise in revenues, according to data from Thomson Reuters StarMine, fuelling hopes of a long-awaited rebound in corporate profits this year.

"This first-quarter earnings season reflects the recovery in the macroeconomic landscape and, although it's moderate, the negative currency impact seems lower than in the previous quarter," said Joffrey Ouafqa, fund manager at Convictions AM, in Paris.   Continuación...