Europe: Earnings, trade optimism help shares ahead of Federal Reserve decision

A slew of positive corporate earnings and optimistic signs from US-China trade talks propped up European shares on Wednesday as investors braced for what would be the US Federal Reserve's first interest rate cut in more than a decade.[BENGALURU] A slew of positive corporate earnings and optimistic signs from US-China trade talks propped up European shares on Wednesday as investors braced for what would be the US Federal Reserve's first interest rate cut in more than a decade.

However, all eyes were on the Fed's policy statement, due at 1800 GMT, with money markets pricing in a roughly 80 per cent chance that the US central bank will cut rates by 25 basis points, in preference to a 50-point cut.Fed Chair Jerome Powell's news conference - and what signs it provides on future easing - may prove, however, more crucial to market moves over the next few days.

The euro zone banking index, however, gained as France's BNP Paribas rose 1.6 per cent on a strong performance in corporate and investment banking and Credit Suisse 2.4 per cent after reporting its highest quarterly earnings in four years.

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