LONDON, May 17 (Reuters) - European shares climbed onTuesday following some encouraging company updates, with TaylorWimpey leading the market higher after announcing aspecial dividend while Vodafone rose after positiveearnings.
Taylor Wimpey shares advanced 3.8 percent, the top gainer inthe pan-European FTSEurofirst 300 index, after thehousebuilder announced a new special payout, promising investorsabout 1.3 billion pounds ($2 billion) over three years,underpinned by strong demand for property in the UK.
Vodafone rose 2.4 percent after the world's second-largestmobile phone operator said its earnings growth would acceleratethis year. The group said a programme to improve its networkshad boosted demand in Europe and helped it to return tounderlying growth in 2016 revenue and core earnings for thefirst time since 2008.
The FTSEurofirst 300 index was up 1 percent by 0720 GMTafter closing flat in the previous session. The index is stilldown about 7.5 percent so far this year.
Among sectoral gainers, miners were also in demand followinga rally in metals prices. The STOXX Europe 600 Basic Resourcesindex was up 2.6 percent. (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)
Vodafone (VOD)
Taylor Wimpey (TW.)
