This content is not available in your region

European shares edge up as earnings flurry quells Fed angst

Access to the comments Comments
By Reuters
European shares edge up as earnings flurry quells Fed angst
FILE PHOTO: Traders sit at their desks in front of the DAX board at the Frankfurt stock exchange, Germany, June 29, 2015. REUTERS/Ralph Orlowski   -   Copyright  Ralph Orlowski(Reuters)

LONDON (Reuters) – European shares opened slightly higher on Thursday as a flurry of corporate trading updates somewhat quelled fears of fast-rising U.S. interest rates amid ongoing concerns the Sino-U.S. trade conflict could escalate and hurt the global economy.

At 0731 GMT, the pan-European STOXX 600 <.STOXX> benchmark index was up 0.3 percent with bourses across the continent in positive territory.

Europe’s third-quarter earnings season is kicking up a gear after indexes hit a 22-month low last week when jitters over rising U.S. bond yields and geopolitical worries rattled global markets.

French supermarket operator Carrefour <CARR.PA> was the top gainer in early trading, up 7.5 percent as sales acceleration in France and Brazil overshadowed weakness in Southern Europe.

The telecom sector <.SXKP> was the best performing one with Sweden’s Tele2 <TEL2b.ST>, lifting its guidance after better-than-expected results.

Some updates disappointed however and HeidelbergCement <HEIG.DE>, one of the world’s largest cement makers, fell 6.7 percent as it trimmed its profit guidance for 2018, citing bad weather in the United States and higher-than-expected energy cost inflation.

(Julien Ponthus and Josephine Mason; Editing by Matthew Mpoke Bigg)