European shares rise on Swiss, EON upbeat earnings

European shares rose by midday trading on Wednesday, buoyed by Swiss Life Holdings and EON SE as they posted upbeat earnings, ahead of U.S. retail sales data.

Swiss Life said its first-half profit surpassed analysts’ predictions while EON mentioned that higher production at its North Sea fields bolstered earnings.

However, the simmering tensions between and Russia and Ukraine are still weighing on investor’s sentiment.

In the same context, the United States has sent about 130 additional military personnel to Iraq to help in fighting against the Islamic State.

In Gaza, talks between Israeli and Palestinians were fruitless, according to a Palestinian delegate, where Israel is preparing for another wave of offense on Gaza Strip after the end of the 72-hour truce today.

Later in the day, a U.S. report may show Advanced retail sales soared 0.2 percent in July, marking its sixth straight monthly growth, according to median forecasts.

As of 06:50 EST, STOXX EUROPE 600 soared 0.46% to record 330.26 points. Utilities led the advance with a rise of 1.21%, followed by Financials which recorded 1.02% rise. 

The highest shares were for Swiss Life as it advanced 6.16% to 224.10 CHF, while the biggest drop was recorded by Meda AB-A as its shares plummeted 8.16% to 93.40 DKK.

Looking at other the major European indices, the French CAC index edged up 0.82% to 4196.18 levels and Britain`s FTSE 100 index recorded 0.45% advance to 6662.12 points. Germany`s DAX index rose 1.15% to 9173.49 points.