European shares turn higher as investors shrug off poor earnings

miércoles 21 de octubre de 2015 06:46 GYT

* FTSEurofirst 300 index up 0.4 percent

* Pearson shares slump after profit warning

* Credit Suisse slips on results, capital hike plans

* Technology top sectoral gainer, led by ARM

By Danilo Masoni and Atul Prakash

MILAN/LONDON, Oct 21 (Reuters) - European shares pared losses to turn slightly higher on Wednesday as confidence over a positive close to the year and continued central bank support helped investors absorb weak earnings news.

The pan-European FTSEurofirst 300 index was up 0.4 percent after falling 0.5 percent in the previous session, while the euro zone's blue-chip Euro STOXX 50 index climbed 0.7 percent.

Among standout losers, Pearson shares sank 16 percent after the firm said it expected earnings to be at the bottom end of its forecast range due to lower enrolments at some colleges in the United States and fewer school text book purchases in parts of South Africa.

Gains were helped by a positive close for Tokyo overnight where sentiment was helped by growing expectations the Bank of Japan may undertake further easing. Investors were also focusing on the European Central Bank's (ECB) meeting on Thursday.   Continuación...