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LONDON, July 31 (Reuters) - European shares struggled fordirection in early trading on Tuesday though earnings updatesfrom oil major BP, big banking stocks and a host of smaller UKcompanies kept things interesting beneath the surface.
The pan-European STOXX 600 edged 0.1 percenthigher, while Germany's DAX also gained 0.1 percent.Britain's FTSE 100 rose 0.2 percent.
Earnings were the big focus following results from bighitters BP, Standard Chartered and Credit Suisse.
Credit Suisse rose 0.8 percent after the Swisslender doubled its second-quarter profit.
Rival Standard Chartered was the biggest bankingfaller, however, down 3.5 percent after giving a half-yearupdate.
Lufthansa led travel and leisure stockshigher. Shares in the German airline jumped 5 percent after itssecond-quarter operating income beat estimates.
Shares in French media conglomerate Vivendi gained4.6 percent after reporting results and saying that it wasconsidering selling up to half of its UMG music division.
Around 40 percent of the way through the earnings season andhalf of MSCI EMU companies have beaten analysts' expectations,with reported actual year-on-year earnings growth clocking in at8.6 percent, according to I/B/E/S data.
BP's shares edged 0.4 percent higher after the oil major'ssecond-quarter profit beat expectations on the back of higheroil prices and increased output.
A number of smaller UK companies saw some big share pricemoves after their results. Shares in Travis Perkinstumbled 8 percent and was one of the worst STOXX 600 performersafter the building materials supplier cuts its profit outlook onthe back of a weak DIY market.
Centrica and Rentokil Initial also fellafter updates.
Elsewhere shares in Swiss group GAM Holding droppedmore than 8 percent after it suspended its investment directedfollowing an internal investigation.
(Reporting by Kit Rees, editing by Louise Heavens)
BP (BP.)
