European shares rise helped by solid earning updates, RBS slumps
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MILAN Aug 5 (Reuters) - European shares rose on Friday in early deals, helped by well-received earning updates from companies including cement maker LafargeHolcim, but Royal Bank of Scotland slumped after its first-half losses widened.
The pan-European STOXX 600 index was up 0.4 percent, but remains on track for its first week of losses in four. Britain's FTSE 100 also advanced by 0.8 percent.
LafargeHolcim rose more than 5 percent, making it the biggest gainer on the STOXX index, after reporting better-than-expected operating profit in the second quarter and reaffirming its guidance.
Well-received earnings updates also boosted shares in DSV and Evonik, both among the top gainers in Europe.
However, Royal Bank of Scotland fell 4.5 percent, underperforming a positive banking sector, after first-half losses at the bank widened to 2.05 billion pounds from 179 million pounds. (Reporting by Danilo Masoni, editing by Kit Rees)
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