* E.ON and Swiss Life rise as results beat forecasts
* Nagging worries over Ukraine crisis limit gains
* FTSEurofirst 300 edges up 0.3 percent
By Sudip Kar-Gupta
LONDON, Aug 13 European stock markets were
steady on Wednesday, supported by gains in utility E.ON
and reinsurer Swiss Life shares after
However, nagging worries about tensions over Ukraine, where
Kiev forces have been fighting pro-Russian separatists, limited
the market's rebound from a recent sharp slide.
The pan-European FTSEurofirst 300 index, which had
hit a 6-1/2 year high in late June but then fell back by some 5
percent due to the uncertainty over Ukraine, edged up by 0.3
percent to 1,324.15 points in midsession trading.
A 4.1-percent rise at E.ON gave one of the biggest lifts to
the FTSEurofirst 300.
Even though E.ON posted a drop in interim profits, with a
warning over the impact of the Ukraine crisis on its Russian
business, its shares rose as the results beat analysts'
Swiss Life also surged 5.5 percent after Switzerland's
largest dedicated life insurer beat expectations with a slight
rise in first-half net income, buoyed by a strong performance in
its home market.
Even though the situation between Russia and Ukraine
remained tense, traders for now were still betting on the
situation not escalating too seriously.
"I think the market went down too far, too fast. I'm a buyer
at these levels," Zurich-based ACIES Asset Management hedge fund
trader and principal, Andreas Clenow, said.
"I think neither side has an interest in a prolonged fight,"
Francois Savary, chief investment officer at Swiss bank
Reyl, also did not expect a major conflict to develop between
Western powers and Russia over Ukraine.
"We are watching the situation very carefully. You never
know, suddenly the situation may change, but I do not think
Putin will go for a full military intervention."
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; Editing by Louise