European stocks rose on Tuesday as a string of healthy company earnings bulletins blew away, for now at least, macroeconomic worries.

The FTSE 100 in London was recently up 0.44% at 6,288.71.

In Frankfurt, the DAX expanded by 0.41% 10,336.95 and in Paris the CAC 40 rose 0.38% to 4,563.32.

S&P 500 mini futures were recently up 0.26%.

Finnish paper maker UPM-Kymmene (UPMKY) was up almost 10% in Helsinki after reporting first-quarter earnings and revenue figures that were well ahead of expectations. It also predicted a booster from foreign exchange movements in the current year.

In London, BP(BP) - Get Report was up about 3% after busting first-quarter forecasts, with BP's adjusted net profit of $500 million defying consensus expectations for a loss of $100 million, according to Jefferies analysts. Also in London British American Tobacco(BTI) - Get Report gained a fillip from first-quarter earnings.

But defense technology company Cobham was down 19% after it warned on full-year profit and announced a plan to sell £500 million ($727.4 million) of new shares in the second quarter to avoid bursting a ceiling agreed with its banks for net debt in relation to Ebitda.

U.K. retailer Carpetright was down 9% in London after it said profit margins would lag forecasts.

Bob Diamond's African bank acquisition vehicle Atlas Mara (AAMAF) was up almost 15% in London after it said it was working on a plan to buy Barclays' (BCF) stake in its separately listed African unit and merge with the business.

Barclays Africa edged higher in Johannesburg, with parent Barclays little changed in London.

German chemicals and life sciences group Bayer (BAYRY) erased early gains to trade marginally lower after first-quarter operating profit beat consensus forecasts. However, first-quarter revenue fell short because of a weaker-than-expected turnout at its crop sciences and consumer health divisions.

In Tokyo, the Nikkei 225 closed down 0.49% at 17,353.28 and the Topix closed down 0.72% at 1,391.69.

Mitsubishi Motors (MMTOF) closed down 9.6% after disclosing that the fuel tests issues currently plaguing the company date back to 1991. The shares closed 9.6% down in Tokyo.

Toshiba (TOSBF) fell 1.7%. A writedown on the value of its Westinghouse nuclear power unit in the U.S. pushed its full-year operating loss to an above-forecast ¥690 billion ($6.2 billion), though its net loss was better than expected thanks to a gain on the sale of its medical unit.

In Hong Kong, the Hang Seng closed up 0.48% at 21,407.27

Li Ka-shing affiliates Cheung Kong Infrastructure Holdings fell 1.2% and Power Assets Holdings fell 1.7% after the companies said they would spend C$1.7 billion ($1.3 billion) buying assets of Canada's Husky Energy.

On mainland China, the CSI 300 composite was up 0.54% at at 3,179.16.

In Sydney, the S&P ASX 200 closed down 0.30% at 5,220.65 as markets reopened following Monday's public holiday.

In Seoul, Hyundai Motor (HYMTF) closed up 2.7% after quarterly profit declined less than expected.