(MENAFN- AFP) Europe's main stock markets rebounded on Wednesday after two days of losses, as optimistic investors eyed the upcoming US results, dealers said. London's benchmark FTSE 100 index added 0.74 percent to 6,639.09 points in midday deals.In Paris, the CAC 40 index won 0.48 percent to 4,445.81 points and Frankfurt's DAX 30 gained 0.34 percent to 9,523.70 compared with Tuesday's closing values."After the FTSE suffered for the first couple of days of this week, it has staged a remarkable recovery in early Wednesday trading," said market analyst Alastair McCaig at trading firm IG.He added: "This more optimistic outlook has been replicated around Europe, as traders conscious of the potential boost the US reporting season might bring have decided this outweighs their worries over the escalations in Ukraine."Overnight, US aluminium giant Alcoa reported a quarterly loss due to heavy restructuring expenses after it shut smelters and rolling mills in response to low aluminum prices.Alcoa said it lost $178 million for the first quarter ending March 31, compared with a profit of $149 million in the year-ago period.The results included $276 million in restructuring costs.Absent the charges, Alcoa earned $98 million, or nine cents a share, beating analyst forecasts of five cents per share."Last night saw Alcoa kick off the latest US reporting season, with its after-market posting of first-quarter figures beating expectations," added McCaig."Corporate attention is now being shifted towards Friday's double US banking hit, as both JP Morgan and Wells Fargo are due to report."Also later on Wednesday, dealers will examine minutes from the US Federal Reserve's most recent monetary policy meeting for fresh clues on the interest rate outlook.In foreign exchange deals, the European single currency eased to $1.3791 from $1.3797 late on Tuesday in New York. The dollar fell to 102.10 yen from 101.75.The euro firmed to 82.43 British pence from 82.36 pence on Tuesday, while the pound dipped to $1.6725 from $1.6749.On the London Bullion Market, the price of gold increased to $1,309.96 an ounce from $1,309.50 on Tuesday.European equities had retreated Tuesday on simmering Ukraine-Russia tensions and after the IMF cut its forecast for global economic growth.Markets had also slumped on Monday as investors fretted over the global technology sector, fresh unrest in Ukraine and the US interest rate outlook, dealers said. Elsewhere on Wednesday, Asia's markets mostly rose following a slight rebound on Wall Street.Hong Kong added 1.09 percent, Seoul rose 0.30 percent and Shanghai finished 0.33 percent higher.However, Tokyo stocks tumbled 2.10 percent, taking another hit from a stronger yen which hurts exporters.But Sydney rallied 0.98 percent to 5,463.8, its highest close since June 2008, supported by a surge in retailer David Jones after it received a massive takeover offer.The upmarket department store has recommended that shareholders accept a buyout from South Africa's Woolworths that values it at US$2.01 billion.In New York on Tuesday, Wall Street enjoyed a pick-up after suffering three successive sessions of losses led by the Nasdaq, as investors had feared that big-name tech firms such as Facebook, Google and Tesla were overpriced.The Nasdaq -- which has lost more than five percent since the start of March -- rose 0.81 percent, while the Dow edged up 0.06 percent and the S&P 500 rose 0.38 percent.
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