EDF shares jump on strong first-half results

Shares in French electricity giant EDF rose by nearly two percent in trading on Thursday on strong first-half results owing to lower costs and increased nuclear production.

In mid-day trading, shares in EDF were up 3.02 percent to 24.19 euros. The French CAC 40 index was down 1.02 percent.

EDF announced net profits of 3.1 billion euros ($4.1 billion) in the first half of the year -- up 8.3 percent from the same figure last year-- attributed to lower operating costs and an increase in production from its nuclear power plants in France and Britain.

Sales for the same period were down 3.8 percent to 36.1 billion euros because of lower energy consumption during a mild winter.

"The results are satisfactory for (CEO) Henri Proglio, and the financial structure of the group has been strengthened," said market analysts Aurel BGC.