London Report:European share indexes rose today, buoyed by plans from companies to return more money to shareholders and solid earnings from the likes of hotel group Accor, but high oil prices kept a lid on gains.
French bank Credit Agricole bucked the firmer trend, falling 4 per cent after its fourth-quarter earnings missed forecasts.
By 11:14am, the FTSEurofirst 300 index of pan-European blue chips was 0.3 per cent higher at 1,103.5 points, while the narrower DJ Euro Stoxx 50 index rose 0.5 per cent to 3,112 points.
Crude prices held firm below $55 a barrel, within reach of all-time highs hit in October last year as cold weather in the United States and a weak dollar lured speculators back into energy markets.
US stock futures were pointing to a mostly firmer start on Wall Street, where stocks closed down today in the face of weakness in the semiconductor sector and the higher crude price.
Among European companies reporting on Wednesday, Accor jumped 4.3 per cent after it posted a forecast-beating 13.2 per cent rise in full-year earnings and announcing a 1 billion euro investment by US real estate group Colony Capital.
Sporting goods firm Adidas-Salomon rose 6.2 per cent, buoyed by a 30 per cent rise in its annual dividend and plans to buy back up to 10 per cent of its own shares.
