Earnings boost for European shares shortlived as markets wait sanctions

martes 29 de julio de 2014 04:32 GYT

* FTSEurofirst 300 flat

* Earnings from GKN, Range and Next provide a boost

* BP results see muted reaction after Russia warning

* Market cautious as EU prepares sanctions

By Alistair Smout

EDINBURGH, July 29 (Reuters) - European shares were unchanged on Tuesday, as encouraging corporate results were offset by the threat of economic fallout from more sanctions against Russia.

Parts maker GKN rose 6.5 percent as growth in its car business offset adverse currency effects. Telecom company Orange and UK-listed fashion retailer Next also rose after results.

However, carmaker Renault fell 3.2 percent. Its profits beat expectations, but cost-cutting helped to put a gloss on falling sales.

After 32 percent of companies reported results, 60 percent of STOXX Europe 600 companies have beaten or met expectations.   Continuación...