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The Deal: European Stocks Rebound Following 3 Days of Losses

Stocks in this article: AAPL STM

LONDON (The Deal) -- European stock indices rebounded on Tuesday after three days of losses, taking their cue from U.S. futures, while Asian indices closed mixed ahead of the start of Federal Reserve Chairman Ben Bernanke's last policy meeting.

The Federal Open Market Committee meets Tuesday and Wednesday to review monetary policy and Bernanke's term as central bank head expires on Friday. Vice Chair Janet Yellen will take his place.

In the U.K., the Office for National Statistics said gross domestic product expanded 0.7% in the fourth quarter, in line with expectations and down slightly from the 0.8% growth rate of the previous quarter. The annual fourth-quarter growth rate was 2.8%, and the economy expanded 1.9% in 2013, up from 0.3% in 2012 and the fastest pace since 2007, according to the statistics office's preliminary estimates.

Important U.S. data out Tuesday, at 8.30 a.m. EST and 10 a.m., respectively, includes December durable goods orders and the Conference Board's January consumer-confidence index.

In London, the FTSE climbed 0.35% to 6,573.57 and in Frankfurt the DAX gained 0.65% to 9,409.94. In Paris the CAC shot up 0.79% to 4,177.41.
Frankfurt-listed shares of  Apple (AAPL)  were down more than 6% after the company late Monday reported flat profit in its fiscal first quarter and said current quarter revenue would lag analysts' estimates.

Also in Frankfurt, shares in semiconductor maker STMicroelectronics (STM) fell after the company reported a year-on-year decline in fourth-quarter revenue to $2.02 billion and an $36 million fourth-quarter loss. Analysts had been looking for the company to move into the black after a $428 million loss a year earlier.

In London, F&C Asset Management shares were up over 4% after it swiftly disclosed, and less than a day later, agreed upon a 708 million pounds ($1.2 billion) takeover offer from Bank of Montreal. The Canadian bank will pay 120 pence per share, and investors will also get a  2 pence dividend for 2013.

Larger fund managers  Schroders and Legal & General Group also rose.

In India the Sensex index ended the day down 0.1% after the Reserve Bank of India unexpectedly raised its benchmark rate to 8% to 7.75% to curb inflation.

In Tokyo the Nikkei  closed down 0.17% at 14,980.16 and in Hong Kong the Hang Seng slipped 0.07% to 21,960.64.

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