Europe: Earnings drive big swings in stocks ahead of Fed meeting

France's CAC 40 outperformed its continental peers with a 0.6 per cent rise after positive earnings updates from luxury group Kering, electrical equipment group Schneider Electric and consulting firm Capgemini.

"Companies that have managed earnings and sales, there have been aggressive cost measures put in place." Eurozone banks took a beating as Deutsche Bank fell 2.5 per cent after giving a slightly improved outlook for the year, but chief executive Christian Sewing damped speculation that the lender was eager to revive merger talks with Commerzbank.

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