European shares hit multi-year high, Airbus surges

martes 13 de mayo de 2014 12:57 GYT
 

* FTSEurofirst 300 index ends up 0.3 pct

* Airbus, ThyssenKrupp help industrial shares

* Italian stocks face selling pressure

By Atul Prakash and Blaise Robinson

LONDON, May 13 (Reuters) - European equities ended higher on Tuesday, with some benchmarks hitting multi-year highs following upbeat company results from major companies such as aerospace giant Airbus and steelmaker ThyssenKrupp.

Airbus, the world's second-largest aerospace group, surged 6.2 percent after reporting better-than-expected profits and saying its new A350 jet was "progressing towards certification" in time for first delivery by the end of the year. It was the top gainer on the FTSEurofirst 300.

ThyssenKrupp, Germany's biggest steelmaker, rose 4.1 percent after posting its first quarterly net profit in two years - beating analyst estimates - and raising its forecast for full-year operating profit.

"The current environment is pretty good for industrials and their shares are likely to perform well going forward," said Christian Stocker, equity strategist at UniCredit in Munich.

"We are overweight (in) the sector as capital expenditure by industrial companies in Europe is increasing. Recent earnings results have also reflected that trend."   Continuación...