July 19, 2017 / 7:34 AM / a year ago

Earnings lift European shares as ASML boosts tech, Reckitt jumps

LONDON, July 19 (Reuters) - A slew of upbeat updates from European firms helped regional indexes rise in early deals on Wednesday and recoup some of the previous session’s sharp losses.

With almost every sector in positive territory, the pan-European STOXX 600 index rose up 0.3 percent while the blue chips gained 0.2 percent.

Dutch semiconductor equipment maker ASML, up 4 percent, boosted the tech sector. The firm beat quarterly earnings estimates thanks to strong demand from manufacturers of memory chips.

Likewise strong first-quarter results from British packaging firm RPC Group boosted the stock more than 6 percent to the top of the STOXX, while home appliance maker Electrolux hit a record high after reporting a bigger-than-expected rise in second-quarter earnings and lifting its market forecast for North America.

Falls among mining firms weighed on Britain’s FTSE 100 , which declined 0.1 percent, while mid caps were flat in percentage terms as utility Drax Group dropped 6 percent after reporting a first half pretax loss.

Cross-border deal-making rolled on with Reckitt Benckiser up 1.6 percent after saying it would sell its food business to U.S. spice and herbs co McCormick & Co Inc for $4.2 bln. Reckitt shares were the biggest boosts on the FTSE 100. (Reporting by Kit Rees, Editing by Vikram Subhedar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below