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Europe shares steady at open; Sanofi rises after results

Reuters - UK Focus

PARIS, July 31 (Reuters) - European shares were steady in early trade on Thursday as investors combed through a batch of corporate results from blue-chips such as Sanofi (NasdaqGM: GCVRZ - news) , Anheuser-Busch InBev and Royal Dutch Shell.

Shares (Frankfurt: DI6.F - news) in Sanofi surged 4 percent after the French drugmaker raised its full-year profit forecast, while German sportswear company Adidas (Other OTC: ADDDF - news) sank 9 percent after saying it will scale back plans to expand in Russia.

At 0709 GMT, the FTSEurofirst 300 index of top European shares was up 0.09 percent at 1,367.91 points, after losing 0.5 percent on Wednesday.

(Reporting by Blaise Robinson; Editing by Alistair Smout)