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

jueves 18 de febrero de 2016 11:14 GYT
 

* FTSEurofirst 300 index rises

* Nestle falls after disappointing results

* AccorHotels gains after beating forecast (Adds detail)

By Atul Prakash and Alistair Smout

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

The pan-European FTSEurofirst 300 index was 0.2 percent higher at 1,298.45 points by 1457 GMT, having touched its highest level since Feb. 4 earlier in the session.

It had ended 2.7 percent stronger on Wednesday following a surge in oil prices, but came back from highs as Wall Street turned lower, having posted its first three-day rally of 2016.

The FTSEurofirst 300 is up 5.3 percent this week, set for its biggest weekly rise since December 2011. It has been buoyed by a recovery in the price of oil and receding fears over global growth, although the index remains down 9.7 percent this year.

Tech shares rose 1.6 percent, led up by Capgemini . The French information technology services company gained 4.3 percent after reporting a 20 percent rise in full-year operating profit and forecasting a wider operating margin for 2016.   Continuación...