November 8, 2012 / 8:21 AM / in 5 years

Siemens leads European shares higher

LONDON, Nov 8 (Reuters) - European shares rose on Thursday after reassuring earnings from major companies including Siemens and Swiss Re.

The FTSEurofirst 300 index was up by 0.5 percent at 1,104.35 points by 0708 GMT, recovering from a 1.4 percent loss during the previous session. The euro zone’s blue-chip Euro STOXX 50 index rose 0.7 percent.

Siemens led gainers across the region, up 3.3 percent, after it beat third-quarter earnings forecasts, while reinsurer Swiss Re rose 3.2 percent after it also beat and said it might pay a special dividend.

“We really like Swiss Re and its promise of the special dividend. After such a sharp sell-off in the previous session, the bargain-hunters are coming back in,” said MB Capital trading director Marcus Bullus.

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