Telecoms lift European shares rise after upbeat Vodafone update

martes 11 de noviembre de 2014 07:42 GYT

* FTSEurofirst 300 up 0.4 pct

* Vodafone up 5.6 pct as it raises guidance

* Henkel boosted by strong results (Adds quote, detail, updates prices)

By Alistair Smout

LONDON, Nov 11 (Reuters) - Europe's benchmark index of top shares rose on Tuesday, boosted by strength in telecoms and German companies after corporate reports beat expectations.

The STOXX Europe Telecommunications sector rose 2.4 percent, the top sectoral gainer, boosted by an expectation beating report from Vodafone.

Vodafone jumped 5.6 percent after the world's second-biggest mobile operator nudged its forecasts for core earnings higher. It reported a sharp improvement in its main quarterly revenue measurement, helped by improved demand in its big European markets.

The rally in the stock lifted other telecoms, with Orange , KPN and Deutsche Telecom all 1.9-4 percent higher.

Vodafone is a bit of a special case, as the disposal of Verizon gives it cash in the bank. However, the update shows that the environment for telcos is a favourable one as improving technology supports revenues," Zeg Choudhry, managing director at LONTRAD, said.   Continuación...