European shares rise early, helped by Swiss Life

miércoles 13 de agosto de 2014 04:43 GYT
 

* FTSEurofirst 300 up 0.4 pct, Euro STOXX 50 up 0.8 pct

* German shares' P/E ratio hits lowest since Oct 2013

* Market seen range-bound ahead of France, Germany GDP

By Blaise Robinson

PARIS, Aug 13 (Reuters) - European stocks gained ground in early trade on Wednesday, helped by forecast-beating results from bellwethers such as Swiss Life and Salzgitter .

However, worries over the Ukrainian crisis and weak economic data from Asia limited the market's rebound from a recent sharp slide.

Shares in Swiss Life rose 3.5 percent after Switzerland's largest dedicated life insurer beat expectations with a slight rise in first-half net income, buoyed by a strong performance in its home market.

E.ON rose 4.9 percent after Germany's biggest utility posted better-than-expected results, although core earnings fell, hit in part by a weak economy and currency in Russia, the group's main foreign market.

At 0814 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,325.73 points, trimming recent steep losses. The benchmark index is still down about 5 percent since mid-June.   Continuación...