European Stocks Rise On US Cues

Frankfurt (Oct 29)  European stocks rose broadly on Wednesday, tracking sharp gains on Wall Street overnight as investors await the outcome of the Federal Open Market Committee meeting later tonight for clues on when the U.S. central bank could raise interest rates.

The Fed is widely expected to announce the end of its bond-buying program, known as quantitative easing, but the tone could be slightly dovish on rate hikes.

The Euro Stoxx 50 index of eurozone bluechip stocks is moving up 0.3 percent while the Stoxx Europe 50 index, which includes some major U.K. companies, is adding 0.4 percent. Around Europe, the German DAX is climbing 0.8 percent, France's CAC 40 is rising 0.3 percent and the U.K.'s FTSE 100 is gaining 0.7 percent.

Software AG shares are climbing 7.5 percent in Frankfurt. The business software firm backed its FY14 forecast after reporting a 2 percent decline in its third-quarter net income.

Airbus Group is adding 1.7 percent. The company has partnered with India's Tata Advanced Systems to jointly bid for the Indian Air Force's Avro replacement program.

Deutsche Bank shares are declining 1.7 percent. The lender announced a management reshuffle after reporting a net loss of 92 million euros for the third quarter of 2014.

Schneider Electric S.A is rallying 2.7 percent in Paris after the French energy management firm confirmed its full-year targets.

Soirce: RTTnews