January 18, 2018 / 8:38 AM / a year ago

European shares post modest rise after U.S., Asia rally

LONDON, Jan 18 (Reuters) - European shares notched up modest gains on Thursday, falling short of a rally that lifted Wall Street and Asia to new records.

The pan-European STOXX 600 rose 0.1 percent by 0824 GMT but the UK’s FTSE and Italy’s FTSE MIB retreated 0.1 percent.

Switzerland’s Geberit posted the best performance among European stocks, with a 4.8 percent rise after reporting a 3.5 percent increase in 2017 sales.

In France, Carrefour led the CAC 40 higher with a 2 percent rise, with traders saying stronger-than-expected fourth quarter sales from the supermarket chain had offset the negative impact of a new profit forecast cut.

In Frankfurt, German chipmaker Infineon led the DAX higher, adding 3.4 percent after getting a rating upgrade from Goldman Sachs.

Telecoms were the worst performing sector with BT and Vodafone losing 1.3 percent and 1.8 percent respectively. (Reporting by Julien Ponthus; Editing by Tom Pfeiffer)

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