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Europe: LVMH, BBVA help European shares steady after strong figures

Wednesday, February 4, 2015 - 16:19
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European shares were steady on Wednesday, boosted by strong figures by luxury goods group LVMH and Spanish bank BBVA, among others.

[LONDON] European shares were steady on Wednesday, boosted by strong figures by luxury goods group LVMH and Spanish bank BBVA, among others.

Shares in LVMH rose 5.5 per cent after it posted stronger-than-expected fourth-quarter sales while BBVA and Finnish utility Fortum were up 2 per cent and 7.7 per cent respectively after their profits beat forecasts.

They were among the top gainers on the FTSEurofirst 300 index, which was flat at 1,478.49 points by 0811 GMT.

Curbing gains on the index was Sweden's Handelsbanken which was down 4 per cent after it reported fourth-quarter operating profit below expectations, due to increased loan losses and weaker-than-expected income on mortgages.

REUTERS