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European shares regain ground, boosted by earnings

Reuters - UK Focus

EDINBURGH, July 29 (Reuters) - European shares rose on Tuesday, with encouraging corporate results giving the stock market a boost to recoup the previous session's losses.

French telecom firm Orange (Other OTC: FNCTF - news) rose 2 percent after it confirmed its annual profit target and managed to stabilise its margins in the second quarter.

The gains fuelled a 0.4 percent rise for the sector, which was the best performer in Europe.

Parts maker GKN (LSE: GKN.L - news) rose 5.1 percent as growth in its car business offset currency headwinds, while Germany's Deutsche Bank and Swiss bank UBS (NYSEArca: FBGX - news) both rose after posting profits that beat consensus forecasts.

The pan-European FTSEurofirst 300 was up 0.3 percent at 1,373.28 points by 0709 GMT, after having fallen 0.2 percent on Monday.

(Reporting by Alistair Smout; editing by Blaise Robinson)