LONDON, July 30 European shares edged higher on
Tuesday, helped by a batch of strong corporate updates,
including from French utility group EDF and German
Both companies raised their full-year outlook after a solid
showing in the first half of the year.
EDF rose 5.7 percent and Infineon was up 4 percent to be the
top risers on the pan-European FTSEurofirst 300 index,
which was up 0.2 percent at 1,208.79 points.
Banking stocks curbed gains on the index, falling
0.5 percent after Barclays announced a
larger-than-expected rights issue at a discount of 44 percent to
its closing share price on Monday.
"That's quite a heavy discount to the current share price
and a larger than expected fund raising exercise which will put
pressure on Barclays and the rest of the sector," Ronnie Chopra,
a strategist at TradeNext, said.
"A sharp fall (in Barclays) yesterday in anticipation and no
doubt this will continue today."