European stocks buoyed by batch of upbeat earnings
PARIS, July 30 (Reuters) - European shares ended slightly higher on Tuesday, as a raft of positive results from blue chips such as EDF eclipsed renewed worries over the banking sector fuelled by Barclays' planned rights issue.
Gains were capped and overall trading volumes were muted, however, as a number of investors moved to the sidelines heading into the U.S. Federal Reserve's policy announcement on Wednesday, expected to shed light on the outlook for the Fed's quantitative easing programme.
The FTSEurofirst 300 index of top European shares unofficially closed 0.1 percent higher at 1,206.93 points, while the euro zone's blue-chip Euro STOXX 50 index added 0.7 percent at 2,760.45 points.
"It's not necessarily the indexes that are rising the most, but within indexes, you have big outperformers jumping after reporting forecast-beating results or with a positive tone on their outlook, and this should continue in the next few weeks," said Alain Pitous, deputy CIO of Amundi, which has about 750 billion euros ($994 billion) under management.
EDF surged 7.3 percent to hit a near two-year high after the French power company lifted its outlook for 2013 core profit.
Barclays sank 5.9 percent after saying it will have to raise 5.8 billion pounds ($8.9 billion) to plug a larger-than-expected capital shortfall spotted by Britain's financial regulator.