European equities steady, DAX touches record high

jueves 15 de mayo de 2014 06:34 GYT

* FTSEurofirst 300 flat after setting 6-year highs

* Strong results from Richemont prop up market

By Sudip Kar-Gupta

LONDON, May 15 (Reuters) - European stock markets steadied near multi-year highs on Thursday, with Germany's DAX touching a record peak as solid earnings from leading companies including Richemont propped up equities.

The pan-European FTSEurofirst 300 index was flat at 1,367.88 points in mid-session trading, hovering just below a 6-year high of 1,372.81 points reached earlier in the day.

Germany's DAX hit a record high of 9,810.29 points before edging back to trade flat at 9,757.03 points, while the euro zone's blue-chip Euro STOXX 50 index dipped 0.2 percent to 3,205.16 points.

A 5.2 percent rise at Swiss luxury goods company Richemont added the most points to the FTSEurofirst 300, after it reported solid sales growth and announced a dividend hike and share buyback.

Over the past week, European stock markets have also been boosted by increasing signs the European Central Bank (ECB) will cut rates and announce other stimulus measures in June.

"It looks as if they will adjust interest rates, and that should keep equity markets supported," said Berkeley Futures associate director Richard Griffiths.   Continuación...