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HBOS, retailers help Europe shares up; Nokia weighs

Fri Aug 29, 2008 11:39am EDT
 
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FRANKFURT, Aug 29 (Reuters) - European shares rose on Friday, led by UK bank HBOS (HBOS.L) and French retailer Carrefour (CARR.PA), while Finnish mobile phone maker Nokia (NOK1V.HE) was the leading big-league loser.

The FTSEurofirst 300 .FTEU3 index of top European shares closed unofficially 0.4 percent up at 1,195.42 points.

It advanced for the fourth straight day to record a rise of 1.3 percent for the month, August becoming only its second month of gains this year.

Mortgage lender HBOS (HBOS.L) led Friday's rise, putting on 3.3 percent amid market talk it was about to sell its Australian operation, traders said. HBOS declined to comment.

Carrefour (CARR.PA) shot up 7.2 percent after the French group met key profit expectations for the first half and stood by its 2008 forecasts.

The DJ Stoxx European retail index .SXRP climbed 1.8 percent, making it the day's top sectoral gainer.

Nokia (NOK1V.HE) fell 2.2 percent, with traders citing an imminent change in a key MSCI index, which is expected to trigger selling, and gloomy comments from rival Samsung (005930.KS). (Reporting by Peter Starck)

 

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