BMW, Credit Agricole boost European shares after results

martes 5 de agosto de 2014 03:37 GYT

* FTSEurofirst 300 up 0.5 pct, Germany's DAX up 0.6 pct

* Strong corporate results lift market

* Vivendi rallies after Telefonica's bid for Brazilian unit

By Francesco Canepa

LONDON, Aug 5 (Reuters) - European shares rose early on Tuesday as strong results from German car maker BMW and other blue-chip stocks supported an otherwise subdued market.

Shares in BMW traded 2.9 percent higher after the luxury car maker reported a higher than expected second-quarter operating profit, helped by new off-road models and strong China sales.

Deutsche Post also reported a better than expected quarterly operating profit as an economic recovery in Europe and North America boosted trade flows, sending its shares up 2.2 percent.

Both stocks were helping Germany's DAX regain some ground. It has underperformed other euro zone indexes in recent sessions due to its larger exposure to Russia, whose economy is being hit by international sanctions imposed for its role in the Ukrainian crisis.

The DAX was up 0.6 percent at 9,205.25 points by 0723 GMT, with the pan-European FTSEurofirst 300 0.5 percent higher at 1,336.58 points.   Continuación...