Morning MoneyBeat Europe: Equities Stable Ahead of Fed

        By Peter Nurse
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        The Breakfast Briefing
        European stocks rose Wednesday, cheered by a further stabilization in Chinese equity markets, but trading volumes were expected to remain thin and investors cautious ahead of a policy statement from the U.S. Federal Reserve later in the day.
        The Stoxx Europe 600 added 0.6% early in the session, building on Tuesday's 1.1% gain. China's shares oscillated between gains and losses Wednesday as officials stepped up efforts to calm markets on the back of three days of selling that has knocked 11% off the value of China's main stock index and severely unnerved global investors.
        Gains in Europe were also spurred by some of stronger-than-expected corporate earnings, from teh likes of British American Tobacco and Barclays.
        Later in the session, investors' attention will focus on news from the Federal Reserve. Chairwoman Janet Yellen isn't scheduled to host a news conference and the Fed won't publish any fresh economic projections, but officials could give some hints about the economy's trajectory and the outlook for policy.
        Read our full take on the European markets today here.
        -- Josie Cox
        Market Snapshot: At 7.45 a.m. GMT, FTSE 100 up 0.75%, CAC 40 up 0.79% and DAX up 0.56%. Nikkei finished Wednesday down 0.1%. Brent crude down 0.79% at $52.88. Gold up 0.03% at $1097. EUR/USD down at $1.1038. Ten-year Treasury yield flat at 2.25%, Bund yield flat at 0.65%, Gilt yield flat at 1.95%.
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        From The Wall Street Journal
        Barclays Scraps Dividend Target Despite Rise in Profit: Barclays on Wednesday scrapped its dividend target to retain capital as part of a fresh effort by Executive Chairman John McFarlane to reshape the beleaguered British bank.
        GM, Ford, Flourish Out of the Limelight: Rising U.S. demand for pickup trucks and sport-utility vehicles, spurred by lower gasoline prices, is propelling domestic margins at General Motors and Ford Motor to levels more typical of German luxury car makers.
        T urkey Puts NATO in Tight Spot:Turkey drew NATO deeper into the Middle East conflict on Tuesday, while threatening to further inflame regional turmoil by signaling an end to three years of peace talks with Kurdish separatists.
        New Gains for Syrian Rebels Pose Challenge to Assad: Syrian President Bashar al-Assad lost more territory on Tuesday to Islamist insurgents and Kurdish militias, bolstering Turkey's push to create a rebel-controlled buffer zone along the two countries' shared border.
        Solvay to Buy Cytec Industries for $5.5 Billion: Belgium-based chemicals company Solvay on Wednesday said it is buying U.S. counterpart Cytec Industries for $5.5 billion to boost its product offering.
        RBS to Raise $2.2 Billion From Citizens Stake Sale: Royal Bank of Scotland Group said Wednesday it plans to raise $2.2 billion from the sale of 86 million shares in Citizens Financial Group via a public offering.
        (END) Dow Jones Newswires

        July 29, 2015 04:07 ET (08:07 GMT)

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