European stock markets ended largely up on Tuesday after a volatile day as investors await rate decisions from the Federal Reserve and Bank of Japan later this week.

Italian bank Monte dei Paschi (BMDPY) closed down 1.2%. The Financial Times reported that the bank is seeking to raise €5 billion ($5.5 billion) in  capital to avoid a bail-out and partial nationalization.

In London, the FTSE 100 was marginally up 0.21% to close at 6,724.03.

Miners were largely up in London a precious metals gained throughout the day. Fresnillo was up 3.7%, Rio Tinto (RIO) - Get Report was up 3.1% and Randgold (GOLD) - Get Report gained 1.6%.

BP (BP) - Get Report  suffered after reporting second-quarter earnings had fallen by 45% due to lower crude prices. Profit adjusted for one-time items and inventory changes was down to $720 million in the second quarter from $1.3 billion at the same time last year.

This missed the $819 million average estimated by analysts surveyed by Bloomberg. Shares were down 1.3% in London.

SABMiller's (SBMRY) shares closed 0.7% down at 4,410 pence after AB InBev (BUD) - Get Report upped its takeover offer to 4,500 pence ($59)  per share. SABMiller said it would hold further consultations with shareholders over the revised offer and that the board would meet to discuss it.

In Frankfurt, the Dax closed 0.49% up at 10,247.76.

Volkswagen (VLKAY) was the biggest riser on the Dax today. The German carmaker gained 2.4%  on reports that it plans to offer a new proposal to fix 85,000 3.0 liter vehicles. Reuters cited a Justice Department lawyer.

Daimler (DDAIY) gained 1.4% after the carmaker said it will merge Mytaxi with U.K. rival Hailo to strengthen its position in an increasingly crowded European taxi-hailing app market.

Daimler will own 60% in the new company, to be called Mytaxi, while the remaining stakes will be held by Hailo's existing shareholders, according to Mytaxi spokesman Stefan Keuchel.

The Cac 40 in Paris shrugged off a terrorist attack in Normandy that saw a priest murdered. Isis has claimed responsibility for the attack.

The benchmark index was up 0.21% at 6,724.03.

Orange (ORAN) - Get Reportlost 3.7% in Paris today after it posted second-quarter earnings. The French telecom had adjusted Ebita of €3.34 billion, an increase of 0.1%. The company also reiterated its full-year target for profit growth.