Yahoo Finance European stocks mixed amid earnings, before Fed
Europe's main stock markets were mixed Wednesday afternoon, as traders reacted to a batch of company earnings updates ahead of the Federal Reserve's latest policy statement.
London's benchmark FTSE 100 index gained 0.57 percent to stand at 6,592.88 points in mid-afternoon deals.
The CAC 40 in Paris advanced by 0.23 percent in value to 4,989.11 points, while Frankfurt's DAX 30 shed earlier gains to trade 0.03 percent lower at 11,170.46 points compared with Tuesday's close.
The euro dipped to $1.1037 from $1.1058 late in New York on Tuesday.
"European equities are trading higher today seeing some follow-through buying after yesterday's impressive rebound," said Markus Huber, senior analyst at brokers Peregrine & Black.
"Firmer and calmer markets in China overnight and solid earnings reports... are giving markets" a boost, Huber said, adding that all eyes were on the Fed.
Shanghai stocks recovered Wednesday after plunging more than 11 percent in the past three sessions, but there were mixed results for other Asian markets with some unable to sustain an early rally.
Buyers were also given a healthy lead from Wall Street, which climbed Tuesday for the first time after five sessions of losses as dealers await the outcome of the US Federal Reserve policy meeting later in the day.
On Wednesday US stocks opened higher ahead of the Fed meeting, while microblogging company Twitter and online listings site Yelp plunged on disappointing earnings reports.
Five minutes into trade, the Dow Jones Industrial Average stood 0.17 percent higher at 17,659.53 points.
The broad-based S&P 500 rose 0.18 percent to 2,097.10 points, while the tech-rich Nasdaq Composite Index gained 0.29 percent to 5,103.72.
- Focus on Fed -
The Federal Open Market Committee outcome "is going to be very much in focus for all asset classes on a global basis today even though there's no real expectation that we will see any change in the headline rates," said Nour Al-Hammoury, chief market strategist at ADS Securities.
"However many are expecting the Fed to include the latest developments from China and their interpretation of this will be interesting to hear."
While the Fed's policy committee is not expected to announce a rate cut Wednesday, dealers will pore over its latest statement to see if it gives any clues about when it will begin a lift-off, with expectations for either September or December.
On Europe's corporate front, shares in Barclays rose 1.95 percent to 285.05 pence after the troubled British bank said it had increased net profits by 43 percent in the first half as cost-cutting and higher revenue offset provisions for settling a series of scandals, including the rigging of foreign exchange.
Volkswagen, which recently pipped Toyota for the world's biggest automaker title, slid 3.75 percent to 183.65 euros after the German auto giant lowered its global sales forecast for 2015, citing weaker demand from China and other key markets.
Peugeot soared 6.02 percent to 18.855 euros, topping the CAC 40, after the French carmaker bounced back from losses to post a net profit in the first half.
Total gained 0.87 percent to 43.59 euros after the French oil giant announced better-than-expected net profits.
