European shares edge higher, pinned back by French telecoms

miércoles 2 de julio de 2014 04:34 GYT

* FTSEurofirst 300 up 0.1 pct, CAC underperforms

* Orange, Bouygues, Iliad drop as consolidation rejected

* Alcatel-Lucent benefits from upgrade

* Car-makers see U.S. sales hit highest since 2006

By Alistair Smout

EDINBURGH, July 2 (Reuters) - European shares rose slightly on Wednesday, following fresh highs in U.S. markets and a three-year peak for Asian stocks, though dashed hopes for deal-making in the French telecoms sector kept a lid on gains.

The pan-European FTSEurofirst 300 index was up 0.2 percent at 1,384.52 by 0800 GMT, with benchmark indexes in Germany and the UK in positive territory.

The French blue-chip CAC 40 index, however, fell 0.2 percent, with Orange, Bouygues and Iliad down between 3 percent and 4.2 percent after Orange said on Wednesday it was dropping the idea of taking part in tie-ups in the French telecoms market.

The STOXX Europe telecommunications sector as risen roughly a third in the last year, partly on hopes that more relaxed regulation would allow large-scale mergers in the sector.   Continuación...