Reply #23: European shares rise by midday; Daimler eyed

[Ghost Dog]

http://yahoo.reuters.com/news/articlehybrid.aspx?type=comktNews&storyID=2007-02-14T121027Z_01_L14151772_RTRIDST_0_MARKETS-EUROPE-SHARES-UPDATE-2-CORRECTED.XML&pageNumber=0&imageid=&cap=&sz=13&WTModLoc=HybArt-C1-ArticlePage2

LONDON, Feb 14 (Reuters) - European shares traded higher by midday on Wednesday amid a flurry of corporate results, a likely revamp at DaimlerChrysler (DCXGn.DE: Quote, Profile , Research), and acquisition talk.

DaimlerChrysler, the world's fifth largest carmaker, rose 4.7 percent to its highest since mid-2002 after it confirmed it was planning a restructuring and aimed to review all options with partners for struggling U.S. unit Chrysler.

At 1138 GMT, the FTSEurofirst 300 <.FTEU3> index of top European shares was up 0.16 percent at 1,538.78 points.

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French oil giant Total (TOTF.PA: Quote, Profile , Research) unveiled record profits and forecast increased oil and gas output, boosting its shares about 2 percent.

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Britain's FTSE 100 .FTSE was flat, while Germany's DAX <.GDAXI> was up 0.30 percent, and France's CAC 40 <.FCHI> was up 0.24 percent.

The Bank of England signalled that British interest rates will probably need to rise one more time to keep inflation on track to hit its 2 percent target.

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