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European shares flat, Altice jumps after results

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[LONDON] European shares steadied in early trading on Tuesday, with gains in companies such as Altice and financials offset by weaker commodities-related stocks that tracked prices of crude oil and industrial metals lower.

Shares in Altice surged more than 10 per cent after the company said second-quarter core operating profit grew 2.7 per cent, beating a Reuters poll, as its businesses in Portugal and the United States offset the steep decline in profitability at SFR.

The STOXX Europe 600 Basic Resources index fell 0.8 per cent, the worst sectoral performer, as prices of crude oil and major industrial metals such as copper and aluminum fell 0.6 to 1.0 per cent.

The broader STOXX 600 index was little changed in early trading.

Danish jewelry maker Pandora fell 5.3 per cent, the top decliner in the pan-European STOXX 600 index, after its second-quarter profits came in below market consensus.