for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

European shares open higher led by Sodexo, miners

MILAN, Nov 19 (Reuters) - European shares opened higher on Thursday led by Sodexo after a solid update and helped by strong gains among mining stocks.

The pan-European FTSEurofirst 300 index, which fell 0.2 percent on Wednesday, rose 0.9 percent and euro zone’s blue-chip Euro STOXX 50 index rose 1 percent.

Sodexo rose more than 8 percent after the French catering-to-vouchers group said it would further cut costs to cope with a volatile global economy and forecast higher revenues and operating profit for the fiscal year 2015-16.

Mining stocks were the top sectoral gainer to rise 2.8 percent, with BHP Billiton leading the way after saying its priority was to maintain a healthy balance sheet.

Thyssenkrupp rose 1.3 percent, reversing initial losses after mixed results and a cautious outlook for the year. Brokers said the dividend was less than expected but its quarterly adjusted operating profit beat expectations. (Reporting by Danilo Masoni; Editing by Alistair Smout)

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up