(Corrects to clarify Yara is fertilizer producer)
LONDON, April 12 European shares rose on
Wednesday, driven by gains in financials stocks and carmakers,
as first-quarter earnings season kicked off and a rise in the
oil price underpinned energy stocks.
The pan-European STOXX 600 index was up 0.6 percent
by 0722 GMT. Britain's mid-caps hit a fresh record high
at 19,412.43 points, up 0.5 percent.
Autos stocks were the best performers, up 1.5
percent, followed by oil and gas stocks which rose with
crude prices on potential extension of output cuts.
German luxury carmaker Daimler gained 2 percent
after it said first-quarter profits jumped 87 percent in a
surprise release Tuesday evening, on strong Mercedes sales.
Dialog Semiconductor fell for the second day, down
2.5 percent. It had closed down 14 percent on Tuesday after an
analyst report said its biggest client Apple could be seeking to
Peer Austria Microsystem meanwhile was among top
gainers, up 4.8 percent.
Norwegian fertilizer maker Yara was a top gainer after
Goldman Sachs added the stock to its 'conviction list', raising
it to a buy.
Banco Popular led gains among banks, up 3.6 percent
having hit a fresh record low at the open. The struggling
Spanish bank was down 18 percent since announcing it would raise
more capital on Monday.
Britain's biggest retailer Tesco fell 2.6 percent
after posting forecast-beating full-year profit, saying it was
continuing to engage with competition authorities to seek
shareholder approval of its deal to buy wholesaler Booker
(Reporting by Helen Reid, Editing by Vikram Subhedar)