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European shares edge up as earnings flurry quells Fed angst

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European shares edge up as earnings flurry quells Fed angst

European shares edge up as earnings flurry quells Fed angst
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Ralph Orlowski(Reuters)
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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.

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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)

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