LONDON Jan 31 European shares managed slight
gains on Thursday as the earnings season got underway in
earnest, with Ericsson a strong gainer early on as
investors cheered its fourth-quarter results.
Ericsson surged 10.2 percent in early trade after unveiling
higher-than-expected fourth-quarter core profit and revenue
growth, raising hopes the world's top mobile telecom gear maker
is beginning to shake off the global downturn.
The FTSEurofirst 300 was up 0.1 percent at 1,172.11
points by 0809 GMT, having dropped 0.6 percent in the previous
session, with the index on course to round off January in solid
fashion having notched up a more than 3 percent gain for the
"January has been an exceptionally strong month with
especially retail money finally leaving cash and the bond
markets and flowing into equities. Normally when January does
well, so does the whole year so I remain positive," Lex van Dam,
hedge fund manager at Hampstead Capital, which manages around
$500 million of assets.