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Europe: Shares edges up as earnings flurry quells Fed angst

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European shares opened slightly higher on Thursday as a flurry of corporate trading updates somewhat quelled fears of fast-rising US interest rates amid ongoing concerns the Sino-US trade conflict could escalate and hurt the global economy.

[LONDON] European shares opened slightly higher on Thursday as a flurry of corporate trading updates somewhat quelled fears of fast-rising US interest rates amid ongoing concerns the Sino-US trade conflict could escalate and hurt the global economy.

At 0731 GMT, the pan-European STOXX 600 benchmark index was up 0.3 per cent with bourses across the continent in positive territory.

Europe's third-quarter earnings season is kicking up a gear after indexes hit a 22-month low last week when jitters over rising US bond yields and geopolitical worries rattled global markets.

French supermarket operator Carrefour was the top gainer in early trading, up 7.5 per cent as sales acceleration in France and Brazil overshadowed weakness in Southern Europe.

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The telecom sector was the best performing one with Sweden's Tele2, lifting its guidance after better-than-expected results.

Some updates disappointed however and HeidelbergCement , one of the world's largest cement makers, fell 6.7 per cent as it trimmed its profit guidance for 2018, citing bad weather in the United States and higher-than-expected energy cost inflation. 

REUTERS