European stocks rose as companies from BP Plc to UBS AG reported earnings and the Federal Reserve began a two-day meeting.

The Federal Open Market Committee started a two-day meeting today to consider when to begin trimming the $85 billion-a-month of bond purchases that have buoyed global markets. Policy makers will hold off paring stimulus measures until the March 18-19 meeting, a Bloomberg survey showed this month.

Retail sales in the U.S. outside of auto dealers climbed in September. The 0.4 percent gain in purchases excluding vehicles followed a 0.1 percent increase in August and matched the median forecast of economists, Commerce Department figures showed today in Washington.

A separate report showed that confidence among U.S. consumers declined in October by the most since August 2011. The Conference Board’s index fell to 71.2 in October from a revised 80.2 the month prior, the New York-based private research group said today. The median forecast in a survey of economists called for a reading of 75.

National benchmark indexes rose in 16 of the 18 Western-European markets. The U.K’s FTSE 100 gained 0.7 percent, Germany’s DAX Index added 0.5 percent and France’s CAC 40 increased 0.6 percent.

BP added 5.6 percent to 477.5 pence, its biggest gain since January 2011. Europe’s third-largest oil company raised its dividend by 5.6 percent to 9.5 cents a share. Profit adjusted for one-time items and inventory changes dropped to $3.7 billion from $5 billion a year earlier, beating the $3.4 billion average estimate of 13 analysts surveyed by Bloomberg.

A gauge of European oil and gas companies posted the best performance of the 19 industry groups in the Stoxx 600, gaining 1.9 percent to a nine-month high. Saipem SpA rallied 4.7 percent to 17.04 euros and Fugro NV added 2 percent to 46.48 euros.

Nokia Oyj jumped 7 percent to 5.35 euros. The Espoo, Finland-based company forecast rising profit ">OC Oerlikon Corp. climbed 1.6 percent to 12.65 Swiss francs. The maker of textile machinery reported third-quarter earnings before interest and taxes of 88 million francs ($98 million), beating the 86 million francs analysts had forecast.

UBS slid 7.7 percent to 17.70 francs. The bank’s target of reaching 15 percent return on equity in 2015 will be delayed by at least a year unless the regulator removes its capital demand, the Zurich-based lender said in a statement. UBS also reported third-quarter net income of 577 million francs, beating the average analyst estimate that called for 561 million francs.

U.S. stock-index futures fluctuated as investors assessed data on retail sales and producer prices and Federal Reserve policy makers began a two-day meeting.

Global Stocks:

Nikkei 14,325.98 -70.06 -0.49%

Hang Seng 22,846.54 +39.96 +0.18%

Shanghai Composite 2,128.86 -5.01 -0.23%

FTSE 6,765.63 +39.81 +0.59%

CAC 4,276.39 +24.78 +0.58%

DAX 9,001.26 +22.61 +0.25%

Crude oil $98.12 -0.57%

Gold $1347.50 -0.35%

European stocks rose as companies from BP (BP/) Plc to Deutsche Bank AG reported earnings and the Federal Reserve began a two-day meeting. U.S. stock-index futures were little changed and Asian shares fell.

The Stoxx Europe 600 Index added 0.2 percent to 320.25 at 8:52 a.m. in London. The gauge fell 0.2 percent yesterday, snapping a three-week rally, as U.S. factory production and home sales missed forecasts. The index has still soared 15 percent in 2013, closing at a five-year high on Oct. 22, as central banks around the world pledged to leave interest rates low for a prolonged period.

“The Fed meeting is in focus and it is likely that the Committee will view weak U.S. economic reports as not supportive of tapering in 2013,” said Lorne Baring, who oversees about $500 million as managing director of B Capital SA in Geneva. “The overreaction to the mention of tapering is now over. Underlying sentiment is still positive and I think European stocks still offer more intrinsic value than U.S. equities.”

The Federal Open Market Committee starts a two-day meeting today to consider when to begin trimming the $85 billion-a-month of bond purchases that have buoyed global markets. Policy makers will hold off paring stimulus measures until the March 18-19 meeting, survey showed this month.

A Commerce Department report may show that retail sales stalled in September. Economists forecast no change in purchases, the worst reading in six months, after a 0.2 percent gain the previous month. Separate data at 10 a.m. will probably show consumer confidence declined this month.

BP gained 4.1 percent to 470.6 pence. Europe’s third-largest oil company raised its dividend by 5.6 percent to 9.5 cents a share. Profit adjusted for one-time items and inventory changes dropped to $3.7 billion from $5 billion a year earlier, beating the $3.4 billion average estimate of analysts.

OC Oerlikon Corp. (OERL) climbed 2 percent to 12.70 francs. The maker of textile machinery reported third-quarter earnings before interest and tax of 88 million francs, beating the 86 million francs analysts had forecast.

Deutsche Bank slid 2.5 percent to 35 euros after Europe’s biggest investment bank by revenue said that net income in the three months through September declined to 41 million euros ($56 million) from 747 million euros a year earlier. That missed the 430 million-euro average estimate of analysts.

FTSE 100 6,757.14 +31.32 +0.47%

CAC 40 4,265.31 +13.70 +0.32%

DAX 8,991.8 +13.15 +0.15%

Asian stocks fell, with the regional benchmark gauge paring its first back-to-back monthly gain since April, as investors awaited a Federal Reserve policy meeting.

Nikkei 225 14,325.98 -70.06 -0.49%

Hang Seng 22,846.54 +39.96 +0.18%

S&P/ASX 200 5,415.53 -25.88 -0.48%

Shanghai Composite 2,128.86 -5.01 -0.23%

Komatsu Ltd. tumbled 8.1 percent in Tokyo after the world’s second-largest maker of construction equipment cut its full-year profit forecast by 26 percent.

Galaxy Entertainment Group Ltd. slumped 3.3 percent in Hong Kong, leading Macau casino operators lower after Credit Suisse Group AG said gaming stocks are at risk of a correction following this year’s rally.

Australia & New Zealand Banking Group Ltd. climbed 1.2 percent to a record in Sydney after posting its highest profit and raising its dividend more than forecast.

Nikkei 225 14,396.04 307,85 2,19%

Hang Seng 22,806.58 108,24 0,48%

S & P / ASX 200 5,441.41 55,06 1,02%

Shanghai Composite 2,133.87 0,91 0,04%

FTSE 100 6,725.82 +4.48 +0.07%

CAC 40 4,251.61 -20.70 -0.48%

DAX 8,978.65 -7.09 -0.08%

Dow 15,568.93 -1.35 -0.01%

Nasdaq 3,940.13 -3.23 -0.08%

S&P 500 1,762.11 +2.34 +0.13%