European Stocks Close Higher on Corporate, Bank Gains

European stocks closed higher on Tuesday, supported by gains in corporate and bank shares, with investors focusing particularly on the Federal Reserve's interest rate decision and monetary policy outlook. The pan-European Stoxx 600 index closed 0.5 percent higher, with banks up 1.2 percent. Italian banking group Intesa Sanpaolo jumped 3.5 percent after it raised its earnings forecast and reported stronger-than-expected quarterly earnings. Austrian bank Raiffeisen International rose 3.7 percent after reporting better-than-expected second-quarter earnings. The construction and materials sector rose 1.3 percent, with Spain's ACS up more than 4 percent after reporting an 8 percent increase in first-half net profit. Investors' focus this week is on the Federal Reserve, which will conclude its interest rate-setting meeting on Wednesday. Source: Qatar News Agency