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LONDON, Oct 28 (Reuters) - European shares are seen edging higher on Wednesday as investors digest a flurry of earnings reports ahead of a Federal Reserve policy decision later in the day.
Financial spreadbetters expected Britain’s FTSE 100 to open 1 to 4 points higher, or up as much as 0.1 percent, Germany’s DAX to open up 30 to 32 points, or as much as 0.3 percent higher, and France’s CAC 40 to open 17 to 18 points higher, or up 0.4 percent.
Pharmaceutical firm GlaxoSmithKline, beverage maker Heineken and scandal-hit Volkswagen are among the companies to report results on Wednesday.
With a quarter of STOXX Europe 600 companies having reported results, 59 percent have beaten or met expectations, Thomson Reuters Starmine data showed.
After European markets shut on Wednesday, Federal Reserve is expected to keep interest rates unchanged and may struggle to convince skeptical investors it can tighten monetary policy before the end of the year in the face of U.S. and global economic headwinds.
The FTSEurofirst 300 closed 1 percent lower on Tuesday, edging further away from two-month highs hit late last week.
The Swiss bank expects to post a better result in 2015 than the year before, it said in a third-quarter business update on Wednesday, and is open to making more buys to boost its private banking and asset management arms.
The Norwegian oil major posted a third-quarter adjusted operating profit lower than forecasts and said it would cut its capital expenditure for 2015 by another $1 billion as the oil industry struggles on with low crude prices.
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The Norwegian telecoms firm reported third-quarter core earnings above expectations but still revised down its full year revenue and margin guidance due to a failed merger in Denmark.
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The company reported its third-quarter net profit rose to 44.8 million euros from 30.4 million. It had already published preliminary figures on Oct. 13 and raised its full-year guidance.
The world’s biggest luxury group appointed Anish Melwani to head operations in North America, starting Jan. 4.
Red Electrica said net profit rose to 448.8 million euros in the first nine months of the year from 414.8 million euros a year earlier.
Europe’s largest commercial real estate company said nine-month sales rose 2.1 percent to 1.43 billion euros and confirmed its full-year guidance.
The oil services company said it won a contract to supply its proprietary ethylene technology and PDP to PTTGC America LLC (PTTGCA), a subsidiary of Thailand’s PTT Global Chemical, for a 1,000 KTA grassroots ethane cracker to be located in Belmont County, Ohio.
Europe’s biggest asset manager Amundi said its net income fell 15 percent in the third quarter and assets under management declined, hit by market turbulence due to worries about the global impact of a Chinese economic slowdown.
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> Asia slips before Fed, Aussie drops on soft inflation > US STOCKS-Wall St slips on rate uncertainty; Apple up after the bell > Nikkei rises in light trade ahead of Fed, BOJ meetings > TREASURIES-U.S. bond prices rise on weak durable goods data > FOREX-Dollar edges up near 2-1/2-month high ahead of Fed outcome > PRECIOUS-Gold clings to gains, but caution prevails ahead of Fed > METALS-London copper slips, demand worries drag > U.S. crude rises after inventory draw at Cushing hub
Reporting by Alistair Smout