Stockwatch Daily: Euro markets bolstered by results

NEWS European markets were looking strong this morning after a flurry of earnings announcements. In Paris the CAC 40 rose 0.7 per cent, with Alcatel jumping 5.14 per cent after posting Q2 losses in line with expectations. France Telecom rose 3.39 per cent after a 33 per cent increase in first half sales met forecasts. The Frankfurt Dax added 0.3 per cent with chip maker Infineon jumping 1.67 per cent. In London, the FTSE opened 0.1 per cent up, with Marconi adding 3.15 per cent on the back of Alcatel's results. BT was down 0.28 per cent by 10.00(BST), narrowing an earlier decline, after posting profits in line with expectations. Autonomy rose 6.25 per cent after losses in early trading. It reported that second quarter revenue fell to £2.2m, down from £8.8m in the first quarter.