European shares propped up by chemical and car stocks

miércoles 23 de julio de 2014 10:03 GYT

* FTSEurofirst 300 up 0.1 pct

* Daimler, Akzo rise after forecast-beating results

* Investors keeping wary eye on Ukraine crisis

By Sudip Kar-Gupta

LONDON, July 23 (Reuters) - Higher profits at carmaker Daimler and chemicals group Akzo Nobel lifted European shares on Wednesday, offsetting concerns about tighter Western sanctions on Russia over the Ukraine crisis.

The pan-European FTSEurofirst 300 index, which has fallen back from 6-1/2 year highs over the last month, was up by 0.1 percent at 1,375.59 points going into the close of the trading day.

Akzo Nobel advanced by 4.5 percent after posting higher-than-expected second-quarter earnings, boosting the shares of rival Bayer which advanced 0.8 percent.

The STOXX Europe 600 Automobiles Index rose by 0.4 percent as Daimler posted earnings above expectations, following strong demand for new models of its high-end Mercedes-Benz cars in countries such as China.

"The results season so far has not been too bad," said Mirabaud Securities' European equity sales executive Rupert Baker.   Continuación...