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European shares open higher led by Casino; Burberry slumps

Reuters - UK Focus

* FTSEurofirst 300 and Euro STOXX 50 both up 0.5-0.6 pct

* Casino, Unilever (NYSE: UL - news) lead gainers after results

* Burberry slumps on first-half sales miss

MILAN, Oct (HKSE: 3366-OL.HK - news) 15 (Reuters) - European shares rose on Thursday following three days of losses, tracking gains in Asia on growing expectations the U.S (Other OTC: UBGXF - news) . will delay any interest rate hike until 2016, with retailer Casino among the top performers.

The pan-European FTSEurofirst 300 index rose 0.6 percent while the euro zone's blue-chip Euro STOXX 50 index gained by 0.5 percent.

Casino was the top gainer in the pan-European index with a rise of 7 percent as third quarter sales at the French retailer showed a marked improvement across all store formats in its home market.

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Unilever rose 3.5 percent after it reported better than expected third-quarter sales, although it added that sluggish markets globally continued to weigh on its performance.

However, Burberry fell 9 percent after the company missed forecasts for first-half sales growth and highlighted an increasingly challenging environment for luxury sales, hit particularly by greater caution amongst Chinese customers.

Volkswagen (Other OTC: VLKAF - news) rose 0.7 percent, shrugging off news that the German automotive watchdog KBA will force the carmaker to recall 2.4 million vehicles in connection with a emissions test rigging scandal. (Reporting by Danilo Masoni; Editing by Sudip Kar-Gupta)