European Shares Rise as Earnings Roll In
Supportive crude prices and strong results from energy firms and auto companies helped European shares rise on Wednesday. The pan-European STOXX 600 ended up 0.5 percent, broadly in line with euro zone stocks and blue-chips , as oil and gas shares gained 0.8 percent and autos climbed 0.6 percent. "Indications are more positive on the outlook for energy stocks, especially for the most geared such as oil services," said Angelo Meda, head of equities at Banor SIM in Milan. Tullow Oil rose 7.9 percent after higher output from new fields helped sales at the Africa-focused oil producer rise 46 percent in the first half…
Iran's Rouhani in Paris to Revive Business Ties
Iran's President Hassan Rouhani arrives in France on Wednesday with the bosses of oil major Total and aircraft maker Airbus among top executives he is due to meet as the two countries look to revive business ties despite diplomatic differences. On his first trip abroad since a sanctions-ending nuclear accord took effect, Italy this week already rolled out the red carpet for the pragmatist Shi'ite president and his 120-member delegation of business leaders and cabinet ministers, signing a raft of deals. But with France taking a hard line in nuclear negotiations…
Varin Confirms He is Set to Become Areva Chairman
Former chief of car maker Peugeot Philippe Varin confirmed that the French government plans to propose him as chairman of state-controlled nuclear group Areva's new executive board. "You know I am being considered to become chairman of Areva, which is a fantastic challenge for me," Varin said in a speech at the shareholders meeting of EDF, where he is becoming a member of the state-controlled utility's board. He said he would do everything in his power to work closely with new EDF Chief Executive Jean-Bernard Levy to boost complementarity between the two firms.
