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European markets open up on earnings

Thursday, November 01 08:24:39

European shares edged up today, bolstered by a string of upbeat earnings reports from UK companies including heavyweight oil major Royal Dutch Shell . Trading volumes were expected, however, to be thin due to public holidays in France, Italy, Spain and parts of Germany.

The FTSEurofirst 300 index rose 0.3 percent to 1,099.08 points, while the euro zone's blue-chip Euro STOXX 50 index added 0.1 percent to 2,505.61 points. Shell posted a smaller than expected fall in profits, sending its shares 0.9 percent higher, and investors also welcomed news from British bank Lloyds and telecoms group BT. "Some of the results look to be reasonably robust, in light of the weak economic backdrop," said Central Markets senior trader Joe Neighbour. ( C) Reuters