European shares edge up as tech recovers, Steinhoff collapses

Reuters

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(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) LONDON, Dec 7 (Reuters) - European shares edged up on Thursday as tech stocks rebounded in the wake of a similar move in Asia and Wall Street, while troubled furniture retailer Steinhoff continued its market price collapse in the midst of an accounting scandal. The STOXX 600 .STOXX was up 0.1 percent at 0820 GMT with tech stocks .SX8P up 0.5 percent but financials, industrials and healthcare shares also added points to the pan-European index. Shares in Steinhoff SNHG.DE plunged more than 30 percent on Thursday, extending dramatic losses of over 60 percent suffered during the previous session after the South African retailer revealed "accounting irregularities" and its chief executive quit. In London, shares in Ladbrokes Coral LCL.L surged 28 percent after Bookmaker GVC Holdings GVC.L said it had offered up to 3.9 billion pounds ($5.2 billion) to create a betting giant. (Reporting by Julien Ponthus; Editing by Georgina Prodhan) ((julien.ponthus@thomsonreuters.com; 02075426189; Reuters Messaging: julien.ponthus.thomsonreuters.com@reuters.net))

 
(( For pan-European market data and news, click on codes in 
 brackets: 
 European Equities speed guide................... EUR/EQUITY  
 FTSEurofirst 300 index.............................. .FTEU3  
 STOXX Europe index.................................. .STOXX  
 Top 10 STOXX sectors........................... .PGL.STOXXS  
 Top 10 EUROSTOXX sectors...................... .PGL.STOXXES  
 Top 10 Eurofirst 300 sectors................... .PGL.FTEU3S  
 Top 25 European pct gainers....................... .PG.PEUR  
 Top 25 European pct losers........................ .PL.PEUR  
     Main stock markets: 
 Dow Jones............... .DJI   Wall Street report ..... .N  
 Nikkei 225............. .N225   Tokyo report............ .T  
 FTSE 100............... .FTSE   London report........... .L  
 Xetra DAX............. .GDAXI   CAC-40............... .FCHI  
 World Indices..................................... 0#.INDEX  
 Reuters survey of world bourse outlook......... EQUITYPOLL1  
 Western European IPO diary......................... WEU/IPO  
 European Asset Allocation........................ EUR/ASSET  
 Reuters News at a Glance: Equities................. TOP/EQE  
 Main currency report:................................. FRX/ ))

Keywords: EUROPE STOCKS/

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