European shares shrug off U.S. rate hike fears
LONDON Oct 29 (Reuters) - European shares rose on Thursday, shrugging off a choppy trading session in Asia after the U.S. Federal Reserve left the door open to an interest-rate hike, buoyed by a batch of strong corporate earnings reports.
News from the financial sector was more mixed, with Deutsche Bank slipping into the red after scrapping its dividend and Barclays down 3 percent after a 10-percent quarterly profits drop.
Nokia surged 10 percent after reporting stronger-than-expected profits and announcing a new shareholder return plan, while Solvay gained 5 percent after reporting a better than expected third-quarter underlying core profit.
Telecoms equipment maker Alcatel-Lucent rose 9 percent after posting a net loss in the third quarter despite higher revenues from its core networking products, but adding that larger rival Nokia's plan to buy it was on track to complete in the first quarter.
The pan-European FTSEurofirst 300 index was up 0.3 percent at 1,489.45 points by 0811 GMT. (Reporting by Atul Prakash; Editing by Lionel Laurent)
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