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European stocks struggled for direction on Tuesday as investors digested a barrage of earnings and looked for direction from a two-day policy meeting of the Federal Reserve starting later in the day. <\/p>\n
Earlier today, the Bank of Japan maintained its massive stimulus and raised its growth forecasts for the world’s third-largest economy<\/span>, citing expected stronger demand.<\/p>\n Elsewhere, Sweden’s central bank retained its key interest rate and the asset purchase program to support economic recovery and subdued inflation.<\/p>\n The pan European Stoxx 600 was marginally lower at 439.96 after rising 0.3 percent on Monday. <\/p>\n The German DAX and the U.K.’s FTSE 100 slipped around 0.2 percent, while France’s CAC 40 index was marginally higher. <\/p>\n Sweden’s Evolution Gaming Group soared 11 percent after its quarterly core earnings jumped 150 percent. <\/p>\n Norwegian energy and aluminum company Norsk Hydro tumbled 4 percent despite posting better-than-expected earnings. <\/p>\n ABB rose 1.6 percent as the Swiss engineering company unveiled plans to float its electric vehicle charging business<\/span>.<\/p>\n Lender UBS fell 2.7 percent after it reported a surprise $774 million hit from the collapse of U.S. investment fund Archegos.<\/p>\n Lagard\u00e8re shares rose 0.9 percent. The French media and publishing firm reported a 29.8 percent drop in first-quarter revenue on a like-for-like basis.<\/p>\n Energy-management group Schneider Electric gained 0.7 percent after lifting its full-year profit target.<\/p>\n Oil major BP Plc rose 0.8 percent in London after posting better-than-expected earnings for the first quarter of the year.<\/p>\n HSBC Holdings advanced 1.5 percent. The global banking giant reported a significantly better-than-expected 79 percent rise in first quarter profit on the back of an improving economic outlook.<\/p>\n Serco, a company that provides outsourcing services to governments, added 1.4 percent after securing a \u00a3350mln government jobs contract.<\/p>\n Whitbread, owner of Premier Inn hotels, gave up 2.4 percent after it swung to pretax loss for fiscal 2021. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n