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Europe shares rise on positive company updates

Reuters - UK Focus

LONDON, July 17 (Reuters) - European shares rose in early deals on Friday on the back of a positive raft of earnings reports, extending gains from a relief rally in the previous session as Greek fears receded.

Shares (Frankfurt: DI6.F - news) of Swedish network supplier Ericsson (Xetra: ERCA.DE - news) , appliance maker Electrolux (Stockholm: ELUX-A.ST - news) and Swiss fragrance firm Givaudan (Xetra: 938427 - news) were all up 4 to 6 percent at 0706 GMT after reporting profits above analyst expectations.

European equities are headed for their best week since January, with Greek worries receding after the Greek parliament passed austerity measures demanded by its lenders to open talks on a new bailout package. The European Central Bank (ECB) also increased emergency funding for Greek banks on Thursday. (Reporting by Lionel Laurent)