France's CAC 40 index hit a 5-1/2-year peak to lead European shares higher on Friday, with an index of top shares in the region set for its third straight week of gains, Reuters reported. French-listed oil services group Technip and construction firm Saint-Gobain rose 3.4 percent and 2.9 percent respectively, buoyed as banks lifted their target prices for the stocks after they reported results earlier in the week. Saint-Gobain is now up 4 percent since reporting a sales and profit drop on Wednesday, with Berenberg describing the results as "solid" and the outlook as optimistic. That continued a recent trend of French companies delivering decent profits and better outlooks, in contrast to last year, when a weak economy hit earnings and caused the CAC to underperform. Of French blue chips to report yearly earnings so far, 60 percent have beaten or met expectations, posting an aggregate 2 percent surprise on earnings estimates. On the STOXX Europe 600, there has been only a 1 percent positive aggregate surprise in earnings reports, with 59 percent of companies having beaten or met expectations. The CAC is up 1.8 percent so far this year, compared to a 0.8 percent rise on the German DAX. Last year, the DAX rose 25 percent to the CAC's 17 percent gain. At 1502 GMT, the FTSEurofirst 300 index of top European shares was up 0.3 percent at 1,342.55 points, led by a 0.5 percent rise on the CAC, hitting its highest since 2008. -- SPA 18:37 LOCAL TIME 15:37 GMT تغريد
