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European shares inch higher helped by solid earnings
February 3, 2017 / 8:30 AM / 10 months ago

European shares inch higher helped by solid earnings

MILAN, Feb 3 (Reuters) - Some well-received company updates helped European shares inch higher in early deals on Friday but the key pan-regional benchmark index remained on track to end the week with a fall.

The STOXX 600 was up 0.4 percent by 0812 GMT, with the consumer staples and healthcare sectors proving the biggest early lift though basic resources lagged on weaker metals.

The index is down 0.8 percent so far this week and flat over the past month as caution about the impact of U.S. President Donald Trump’s policies has halted the rally in risky assets.

Top gainer on the STOXX index was Beazley after the British insurer reported a stronger than expected rise in full-year pretax profit.

Well-received results also boosted shares in Sweden’s Hexpol and Skanska, while Spain’s Banco Popular fell more than 5 percent after positing a record loss.

Intesa Sanpaolo rose 1 percent, recovering part of recent losses after the bank denied it was preparing an all-share offer for Generali. (Reporting by Danilo Masoni, Editing by Vikram Subhedar)

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