* European shares up 0.4 pct
* Storebrand touches 9-year high on dividend
* France's Vinci gains on 2017 forecasts
* CAC 40 up 0.5 pct, outperforming peers
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By Helen Reid
LONDON, Feb 8 European shares edged higher on
Wednesday led by mining and construction stocks on a heavy day
for company results.
The pan-European STOXX 600 index was up 0.2
percent, but national indexes were mixed, with Italy, Spain and
Britain in negative territory while France's blue-chip index
Norwegian insurer Storebrand was the best
performing stock in the index, up 5.1 percent after touching a
nine-year high, after reporting forecast-beating earnings and
the first dividend in six years.
French construction and concession company Vinci
was also a top gainer after results reported after the market
closed on Tuesday. Its shares were up 3.8 percent after it hiked
its dividend and forecast higher revenue for 2017 and more
traffic on its French motorways.
"With most operating metrics in Q4 improving and guidance
for further growth, we see momentum as positive for Vinci into
2017," said UBS analysts in a note.
"We believe the shares offer good value."
Denmark's wind turbine producer Vestas Wind was
another top gainer leading Copenhagen's OMX 20 index
after it reported a bigger than expected order intake.
German airline Lufthansa rose to the top of the
German blue-chip index after Societe Generale upgraded
the stock to "buy". Lufthansa's Eurowings unit agreed to a
mediation process with German cabin crew on Tuesday.
Spanish construction company ACS rose 3.5 percent
after Australian contractor Cimic Group Ltd, said it
expected a strong 2017 and posted an 11.5 percent rise in
ACS supported the pan-European construction and materials
sector index, which gained 1.2 percent.
The pan-European mining index rose 2 percent, and
Antofagasta and Rio Tinto were among the top gainers, as copper
prices climbed towards a two-month high due to supply concerns.
Among the fallers, Nordic stocks dominated.
Danish shipping and oil group A.P. Moeller-Maersk
was a top faller, its shares down 6.2 percent after
it missed fourth-quarter profit forecasts and announced its
chairman would step down.
Sweden's Handelsbanken dropped 4.3 percent, headed for its
worst daily loss in more than six months, after its profit and
dividend missed forecasts.
Danish beer giant Carlsberg lost 2.8 percent
after its fourth-quarter sales missed analysts' forecasts.
British mid-cap Tullow Oil was the top European
faller after the Africa-focused oil exploration company said it
was in the red for a third year due to exploration
(Reporting by Helen Reid; Editing by Vikram Subhedar and Elaine