LONDON, July 24 European shares rose in early
deals as investors digested a wealth of corporate earnings and
econoimc data, with technology stocks boosted by strong results
from U.S. tech giant Apple.
By 0703 GMT, the FTSEurofirst 300 was up 3.43
points, or 0.3 percent, at 1,210.59, and is now up 8.5 percent
since hitting June lows.
"This rally appears to be being driven by the sight of
companies beating lowered earnings targets, and markets staying
exuberant because they've navigated a lower bar," Michael
Hewson, senior market analyst at CMC Markets, said.
Technology stocks were given a lift after Apple
posted better than expected second-quarter earnings and
revenues, although both were down year-on-year.
ARM, which designs chips for use in mobile computers
and telephone including Apple's iPhone, rose 2.3 percent after
the UK-based firm beat expectations for its second quarter with
a 30 percent rise in adjusted pretax profit.