Europe stocks turn positive; drugmakers rise

LONDON, July 22 | Wed Jul 22, 2009 10:17am EDT

LONDON, July 22 (Reuters) - European shares turned positive in volatile session on Wednesday, with better-than-expected earnings results from GlaxoSmithKline (GSK.L) boosting pharmaceutical shares.

By 1409 GMT, the pan-European FTSEurofirst 300 .FTEU3 index of top shares was up 0.1 percent at 888.88 points after trading between 879.97 points and 890.02 points.

Drugmakers added the most points to the index. GlaxoSmithKline, AstraZeneca (AZN.L) and Novartis (NOVN.VX) were up 0.5-1.7 percent.

Among telecom stocks, Vodafone (VOD.L), Deutsche Telekom (DTEGn.DE) and Telenor (TEL.OL) were 0.2-1.8 percent higher. (Reporting by Joanne Frearson)

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