Peugeot, Lonza, Tullow among the day's big winners
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Stocks across Europe finished higher Wednesday, as investors sifted through the latest round of corporate earnings reports ahead of the Federal Reserve's policy decision.
The Stoxx Europe 600 gained 0.5% to end at 382.74, after the benchmark on Tuesday advanced 0.4% (http://www.marketwatch.com/story/european-stocks-march-higher-as-german-businesses-take-euphoric-tone-2017-07-25).
Shares of Swiss medical and biotech industries supplier Lonza Group AG (LONN.EB) and French car maker Peugeot SA (http://www.marketwatch.com/story/peugeot-net-income-rises-41-2017-07-26)(UG.FR) were among the gauge's big winners as they jumped 7.7% and 3.2%, respectively, in the wake of the companies' financial reports.
Tullow Oil PLC (TLW.LN) finished 7.9% higher for the Stoxx 600's biggest gain. Oil stocks got a lift from crude futures , which were adding to their weekly gain (http://www.marketwatch.com/story/oil-nears-two-month-high-as-eia-reports-a-drop-in-us-crude-supplies-for-fourth-week-in-a-row-2017-07-26) as U.S. government data showed a drop in American supplies for a fourth week in a row.
Meanwhile, the euro bought $1.1631, down from $1.1649 late Tuesday in New York, as the dollar advanced against major rivals ahead of the Fed's policy update later Wednesday.
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But "recent data from the U.S. economy has been less than exciting and does not seem to support Janet Yellen's view of the economy," said Konstantinos Anthis, a researcher at ADS Securities, in a note. "This has left investors unsure whether the Fed will be able to pull the trigger again within 2017 unless data improves and we see genuine growth in the economy."
European investors closely watch the Fed's moves, as they can drive price changes in the euro and in government bonds, as well as shift sentiment. The Federal Open Market Committee decision is due at 7 p.m. London time, or 2 p.m. Eastern
See:Fed to stick to plans for rate hike, balance-sheet selloff this year (http://www.marketwatch.com/story/no-retreat-fed-to-stick-to-plans-for-rate-hike-balance-sheet-selloff-this-year-2017-07-24)
Read:Three ways Draghi could burn the euro bulls (http://www.marketwatch.com/story/three-ways-draghi-could-burn-the-euro-bulls-2017-07-26)
Stock movers: Decliners included ASM International NV (ASMIY). Shares fell 6.2% even as the Dutch chip maker posted growth in second-quarter order intake.
Sage Group PLC shares (SGE.LN) lost 1.2% after the company said revenue for software and software-related services dropped by 5.9% for the first nine months of the fiscal year. The financial software maker also said it's buying Intacct Corp., a cloud-based financial management software maker based in San Jose, Calif., for GBP654 million ($850 million).
National indexes: Germany's DAX 30 moved up 0.3% to close at 12,305.11. The index rose 0.5% on Tuesday after the closely watched Ifo Institute in its survey of business sentiment described German companies as "euphoric" (http://www.marketwatch.com/story/german-business-sentiment-hits-record-high-in-july-2017-07-25).
The U.K.'s FTSE 100 picked up 0.2% to finish at 7,452.32, and France's CAC 40 index rose 0.6% to 5,190.17.
(END) Dow Jones Newswires
July 26, 2017 12:11 ET (16:11 GMT)