Europe shares steady ahead of U.S. jobs, ArcelorMittal surges

viernes 7 de noviembre de 2014 05:03 GYT

* FTSEurofirst 300 up 0.2 pct, remains in recent range

* ArcelorMittal reverses recent slide as results beat forecasts

* Strong U.S. payrolls could impact interest rate outlook

By Blaise Robinson

PARIS, Nov 7 (Reuters) - European shares were steady on Friday morning, supported by positive corporate results from blue-chips including ArcelorMittal as investors awaited key U.S. monthly jobs data.

The world's largest steelmaker gained 3.6 percent, reversing recent losses, after it reported a higher-than-expected profit in the third quarter and said improvements in its steel business were more than offsetting weak mining operations.

German insurer Allianz rose 3.4 percent after it raised the amount of profit it will pay shareholders as a dividend and promised to keep the cash flowing after unveiling a forecast-beating jump in net profit in the third quarter.

At 0843 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,354.26 points. The index has been stuck in a range over the past week, with strong corporate results offsetting weak European macro data.

"There's still no trend at the moment, this market is driven by short-term speculative positions mostly played by hedge funds," said Jean-Louis Cussac, head of Paris-based firm Perceval Finance.   Continuación...