Buoyant media sector supports European shares

Reuters

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    MILAN, July 12 (Reuters) - A buoyant media sector following
a new bid for British pay-TV firm Sky  SKYB.L  drove European
shares higher on Thursday, helping them stabilise after heavy
losses in the previous session when fears of an escalating trade
war hit markets.
    The region's media index  .SXMP  rose more than 1 percent in
early  trading with Sky up 2.7 percent after US-based Comcast
 CMCSA.O  submitted a $34 billion bid for the group just hours
after Rupert Murdoch raised his offer.  urn:newsml:reuters.com:*:nL8N1U819Y 
    The pan-European STOXX 600  .STOXX  index was up 0.1 percent
by 0716 GMT, with gains in the healthcare and consumer sectors
curbed by losses among energy and financials.  
    Elsewhere earnings updates drove share price moves. 
    Gerresheimer  GXIG.DE  rallied 9.8 percent after the German
drugs packaging maker raised the lower end of its revenue growth
guidance and unveiled a 350 million euro acquisition to expand
in the field of digital drug delivery devices.  urn:newsml:reuters.com:*:nL8N1U71J4
    Norwegian bank DNB  DNB.OL  fell 5.8 percent after its
second quarter earnings fell short of expectations.  urn:newsml:reuters.com:*:nL8N1U73B9

 (Reporting by Danilo Masoni, Editing by Helen Reid)
 ((Danilo.Masoni@TR.com; +39-02-66129734; Reuters Messaging:
danilo.masoni.thomsonreuters.com@reuters.net; On Twitter https://twitter.com/damasoni))

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