* FTSEurofirst 300 up 0.6 pct, Euro STOXX 50 0.6 pct
* Infineon, Nokia lead rally in tech shares after results
* Better numbers also boost D. Bank, Statoil
* Ukraine crisis keeps traders on edge
By Francesco Canepa
LONDON, April 29 European shares rose on
Tuesday, led by tech shares as estimate-topping results from
chipmaker Infineon and telecommunication gear maker
Nokia brightened the outlook for the sector.
Infineon and Nokia were among the top risers on the
pan-European FTSEurofirst 300 index after they reported
quarterly earnings boosted respectively by demand from
automotive and industrial customers and by software deals.
The strong numbers helped improve market sentiment around
the tech sector, which had been dented by weak updates from ASML
, Ericsson and SAP earlier this
The STOXX Europe 600 Tech index was up 1.7 percent
at 0741 GMT, outpacing all other sector indexes.
Upbeat results by heavyweights such as Norwegian oil & gas
group Statoil and Germany's largest lender Deutsche
Bank also boosted the broader market.
They more than outweighed disappointing figures from Swiss
engineering group ABB, which posted an unexpected fall
in first-quarter profit because of weak power system orders, and
from Swedish hygiene and paper products maker SCA,
whose earnings rose slightly less than expected.
"We haven't had any nasty surprises in earnings so far,
which is good news for the market, although we're still far from
a genuine rebound in profits that everyone is hoping for this
year," a Paris-based trader said.
Overall, Europe's earnings season has been mixed so far,
StarMine data showed.
About 22 percent of companies listed on the STOXX Europe 600
index reported quarterly results through April 28, with
55 percent having beaten or met analysts' expectations.
The pan-European FTSEurofirst 300 index, was 0.6
percent higher at 1,344.57 points. The euro zone Euro STOXX 50
was also up 0.6 percent, at 3,183.88 points.
Tensions between western powers and Russia over Ukraine kept
traders on edge, with investors fearing further, costly
cross-sanctions after those imposed by the United States on
several Russian individuals and companies on Monday.
European indexes have struggled to make much headway since
hitting multi-year highs earlier this month but charts on the
Euro STOXX 50 showed the index was likely to surge after this
period of lull, according to Philippe Delabarre, a technical
analyst at Trading Central.
He highlighted a symmetrical triangle on the index, a
pattern formed by two converging lines which connect a series of
sequentially lower peaks and higher troughs. Once the price
breaches one of these lines, a sharp movement often follows.
"We still believe the symmetrical triangle, a bullish
continuation pattern, is the main pattern to trade," Delabarre
said. "Therefore, as long as triangle's basis at 2,970 is a
support threshold, our target is 3,440, corresponding to the
overlap between the March 2008 low and August 2008 high."
Europe bourses in 2014: link.reuters.com/pap87v
Asset performance in 2014: link.reuters.com/gap87v
Today's European research round-up
(Additional reporting by Blaise Robinson in Paris)