European shares reach two-week high, led by tech stocks

jueves 18 de febrero de 2016 08:16 GYT

* FTSEurofirst 300 index rises

* Nestle falls after disappointing results

* AccorHotels gains after beating forecast (Recasts to show shares advanced, tech stocks gained.)

By Atul Prakash

LONDON, Feb 18 (Reuters) - European equities climbed to a two-week high on Thursday, helped by gains in the tech shares, although the overall earnings picture remained weak and a decline by mining stocks put pressure on the market.

The pan-European FTSEurofirst 300 index was 0.5 percent higher at 1,306.37 points by 1125 GMT, touching its highest level since Feb. 4. It had ended 2.7 percent stronger on Wednesday following a rally in oil prices.

Tech shares rose 2.2 percent, the biggest gain by a sector , led up by Capgemini. The French information technology services company rose 5.1 percent after reporting a 20 percent rise in full-year operating profit and predicting a wider operating margin for 2016.

"The shares have performed poorly this year on the back of macro concerns, but the overall tone of these results is reassuring," analysts at Credit Suisse said in a note.

Among other tech stocks, STMicroelectronics rose 4 percent after it was lifted to "neutral" from "sell" by UBS.   Continuación...