LONDON, July 17 European shares edged up on
Wednesday, buoyed by upbeat earnings reports from major
companies which reassured some traders that the medium-term
upward trend for equity markets remained intact.
The pan-European FTSEurofirst 300 index edged up by
0.2 percent to 1,193.76 points, recovering from a 0.7 percent
fall in the previous session, while the euro zone's blue-chip
Euro STOXX 50 index rose 0.2 percent to 2,671.66
Swiss drugmaker Novartis raised its full-year
outlook, as did Dutch technology group ASML.
"On the whole, earnings season so far has been pretty good,"
said Berkeley Futures associate director Richard Griffiths.
According to Thomson Reuters StarMine data, 63 percent of
companies on the pan-European STOXX 600 index have
beaten or met market forecasts with their second-quarter results
The FTSEurofirst 300, which has risen some 5 percent since
the start of 2013, hit a 5-year high in late May of 1,258.09
It dropped to a 2013 low of 1,111.11 points in late June on
expectations the U.S. Federal Reserve would scale back economic
stimulus measures. It has since recovered as central banks have
sought to reassure that they will continue to support the global