European equities edge higher ahead of Fed meeting; Bellway up 3.4 percent


The pan-European Stoxx 600 was 0.4 percent higher with most sectors trading in positive territory.

Financial services was the top performing sector on earnings. Partners Group rose 3.3 percent after announcing higher profits for 2017 and a gross client demand between 11 billion and 14 billion euros ($13.58 and $17.28 billion) in 2018.

Media hovered around the flat line Tuesday afternoon, dropping from positive trade in the morning. Earlier, Publicis had risen to near the top of the European benchmark after unveiling a three-year strategic plan, supporting the sector more broadly. But, its shares fell into negative territory later in the session, down 1.9 percent.

Technology stocks rebounded in afternoon trade, and were trading 0.2 percent higher mid-afternoon. The sector shrugged off a sell-off of Facebook shares in the U.S. following reports that the tech company allowed improper use of its data.

Looking at individual stocks, Bellway was among the top gainers across Europe after a 17 percent increase in profit in the first half of its fiscal year. The U.K. property developer was 3.4 percent higher in afternoon trade. Bic dropped to the bottom of the index after UBS initiated coverage of the stock with a “sell” rating. The French pen-maker was 6.7 percent lower by mid-afternoon.



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