LONDON, July 10 (Reuters) - Consumer-focused stocks led
European shares higher early on Wednesday after a bullish update
from Burberry and analyst upgrades for the likes of Tesco, while
weak trade data from China weighed on miners.
Burberry rallied 5.7 percent after the luxury goods
brand maintained its full-year guidance as it posted an 18
percent rise in first quarter underlying retail revenue.
UK Retailers Tesco and Wm Morrison and
Dutch firm Ahold rose as much as 1.7 percent after
Exane BNP Paribas upgraded all three stocks.
The FTSEurofirst 300 rose 2.44 points or 0.2
percent to 1191.39 points, by 0715 GMT.
"The market has a confidence at the moment thus sentiment is
too postive to be upset by Italy's downgrade and China's trade
data," Basil Petrides, trader at Hartmann Capital, said.