(MENAFN- AFP) Europe's main stock markets closed higher Wednesday, 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 the day 1.16 percent ahead at 6,631 points compared with Tuesday's close.
The CAC 40 in Paris finished 0.81 percent higher at 5,017.44 points, while Frankfurt's DAX 30 gained 0.34 percent to close at 11,211.85.
The euro dipped to $1.1027 from $1.1058 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," said Spreadex analyst Connor Campbell, 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, noted Markus Huber, senior analyst at brokers Peregrine & Black.
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.
Wall Street was trading higher as investors joined observers around the world awaiting word from the US Federal Reserve policy meeting due at 1800 GMT.
In midday deals the Dow Jones Industrial Average stood 0.63 percent higher at 17,740.70 points.
The broad-based S&P 500 rose 1.24 percent to 2,093.25 points, while the tech-rich Nasdaq Composite Index gained 0.24 percent to 5,101.18.
- Focus on Fed -
Despite rapt investor attention on the Fed's deliberation, virtually nobody expected any near-term move on rates.
"Whilst the statement is important in general, it comes at a time when investors are clamouring for some clarity in regards the timing of a US rate hike. September remains the most talked about lift-off date, so any comments reaffirming or disagreeing with this sentiment are likely to move an info-hungry market," said Campbell.
"There's no real expectation that we will see any change in the headline rates," agreed Nour Al-Hammoury, chief market strategist at ADS Securities.
"However many (investors) are expecting the Fed to include the latest developments from China and their interpretation of this will be interesting to hear."
On Europe's corporate front, shares in Barclays closed 1.79 percent higher at 284.60 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, ended the day 2.33 percent down at 186.35 euros after the German auto giant lowered its global sales forecast for 2015, citing weaker demand from China and other key markets.
Peugeot soared 6.04 percent to close at 18.860 euros, topping the CAC 40, after the French carmaker bounced back from losses to post a net profit in the first half.
Total finished the day 2.55 percent ahead to 44.315 euros after the French oil giant announced better-than-expected net profits.
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