ROME: Europe’s main stock markets have closed higher, as traders reacted to a batch of strong company earnings updates ahead of the Federal Reserve’s latest policy statement.
London’s benchmark FTSE 100 index ended Wednesday 1.2 per cent ahead at 6,631 points.
The CAC 40 in Paris finished 0.8 per cent higher at 5,017.44 points, while Frankfurt’s DAX 30 gained 0.3 per cent to close at 11,211.85.
The euro dipped to $US1.1027 from $US1.1058 late in New York on Tuesday.
Trading was lifted by positive corporate results across Europe, including encouraging numbers from pharmaceutical giant GlaxoSmithKline, Barclays bank and French companies Peugeot and Total.
“The FTSE managed to maintain its Wednesday gains this afternoon, with a better-than-expected second quarter for GlaxoSmithKline helping to boost the UK index,” Spreadex analyst Connor Campbell said, noting similar earnings announcements saw “the DAX and CAC posting strong gains.”
“Firmer and calmer markets in China overnight and solid earnings reports” also gave markets a boost, according to Markus Huber, senior analyst at brokers Peregrine & Black.
Shanghai stocks recovered on Wednesday after plunging more than 11 per cent in the past three sessions, but there were mixed results for other Asian markets with some unable to sustain an early rally.
Wall Street was trading higher as investors joined observers around the world awaiting word from the US Federal Reserve policy meeting due at 4am (AEST).
In midday deals the Dow Jones Industrial Average stood 0.6 per cent higher at 17,740.70 points.
The broad-based S&P 500 rose 1.2 per cent to 2,093.25 points, while the tech-rich Nasdaq Composite Index gained 0.2 per cent to 5,101.18.
