March 1, 2019 / 8:30 AM / 6 months ago

European shares start March on a high as Moncler, WPP shine

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LONDON, March 1 (Reuters) - European shares rose to five-month highs at the open of the first trading day of March as a fresh batch of corporate updates helped drive a risk-on mood after U.S. President Donald Trump earlier fueled some concerns over trade talks with China.

The pan-regional STOXX 600 index was up 0.5 percent by 0825 GMT to above 374 points, a level not see since October 8 2018.

Gains spread across all regional bourses and sectors at the exception of telecoms, down 0.8 percent.

The sector, a traditional defensive play, suffered from the 5 percent fall experienced by Belgium’s Proximus after it published disappointing results.

Italian luxury group Moncler stole the spotlight with its 2018 results, which broker Jefferies called “remarkable”, and rose 8.7 percent.

Britain’s WPP, the world’s biggest advertising company, came close with a 6.6 percent rise after its full-year results came as a relief amid fears the industry is facing structural headwinds. (Julien Ponthus, Editing by Helen Reid)

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