Markets track Wall Street higher

Europe's main stock markets pushed upwards on Tuesday, mirroring gains elsewhere, but London was somewhat subdued after a long holiday weekend, dealers said.

The tech sector was in focus, with Apple shares forecast to slide when Wall Street reopens, after the European Union ordered the US giant to pay a record 13 billion euros ($14.5 billion) in back taxes in Ireland.

In midday deals, London's FTSE 100 index of top blue-chip companies added 0.2 percent to 6,841.50 points compared with Friday's close.

In the eurozone, Frankfurt's DAX 30 rallied 1.0 percent to 10,652 points and the Paris CAC 40 also won 1.0 percent to 4,470.10 points, compared with Monday's closing levels.

"It has hardly been a vintage morning in terms of market excitement, though this has not stopped the European indices from pushing ahead with gains of varying degrees," noted Spreadex analyst Connor Campbell.

The European Commission -- the EU's executive arm -- concluded Tuesday that Apple had benefited from a series of Irish sweetheart tax deals that were illegal, but the US titan has vowed to appeal the ruling.

"The biggest piece of news from the EU had more repercussions for the US markets than their European counterparts," added Campbell.

"The European Commission has ruled that Apple has to pay up to 13 billion euro in back taxes related to the soft tax deal the tech giant has in Ireland.

"This could cause a sharp decline for Apple after the bell, something that may drag the Dow Jones lower as the US session gets underway."

ETX Capital analyst Neil Wilson said investors were fretting over the longer term implications rather than the size of the fine.

"For Apple and others like it, this could be a watershed," Wilson added.

"Caught between an aggressive EC and the Obama regime's clampdown on tax inversions, it's looking increasingly tough for multinationals to avoid paying the going tax rate."

On Monday, meanwhile, Frankfurt and Paris stocks had fallen as investors tried to second-guess the US Federal Reserve on the timing of its next rate increase.

New York stocks however rallied Monday as fresh data indicated improvement in the world's top economy.

The Commerce Department reported US consumer spending saw a healthy rise in June, indicating third-quarter economic growth will be strong.

Asian equities mostly rose on Tuesday, but Tokyo ended slightly lower on tepid data and profit-taking.

In a much-scrutinised speech, Fed chief Janet Yellen had hinted Friday at a rate rise by the end of the year.

Attention now turns to the release on Friday of the US jobs report.

"Friday may seem like a long time ago but in the absence of much news over the weekend, it is all we have to go on heading into an important data week," said economist Jeremy Cook at foreign exchange traders World First.

"Yellen?s speech was not an overly optimistic speech but nor is it one steeped in pessimism."

- Key figures at 1130 GMT -

London - FTSE 100: UP 0.03 percent at 6,840.30 points

Frankfurt - DAX 30: UP 0.9 percent at 10,641

Paris - CAC 40: UP 0.7 percent at 4,456

EURO STOXX 50: UP 0.9 percent at 3,026.1

Tokyo - Nikkei 225: DOWN 0.1 percent at 16,725.35 (close)

Shanghai - Composite: UP 0.2 percent at 3,074.68 (close)

Hong Kong - Hang Seng: UP 0.9 percent at 23,016.11 (close)

Euro/dollar: DOWN at $1.1167 from $1.1187 late on Monday

Dollar/yen: UP at 102.31 yen from 101.88 yen

Pound/dollar: DOWN at $1.3080 from $1.3105

New York - DOW: UP 0.6 percent at 18,502.99 (close)