BBVA gains on Q4 net profit rise
Hapag Lloyd drops on worsethanexpected Q4 earnings
France39;s CAC 40 hits record high
STOXX 600 ends up 0.2

Jan 30 Reuters European shares closed slightly higher after hitting fresh twoyear highs on Tuesday, as investors drew comfort from upbeat corporate updates, while France39;s bluechip stock index hit a new record peak.

The panEuropean STOXX 600 index closed up 0.2 in its fifth straight session of gains, while France39;s CAC 40 index ended up 0.5, touching record highs during the day.

Banks were among the top advancing sectors, adding 1.8, lifted by a 6.2 increase in BBVA after the Spanish lender39;s fourthquarter net profit jumped 32.

Finnish retailer Kesko surged 8.1 after beating fourthquarter profit estimates, while Danish medical equipment maker Ambu advanced 6.5 following betterthanexpected firstquarter earnings.

Automobiles also rose 1.1, with Stellantis gaining 3.8 after its U.S. rival General Motors gave investors an upbeat outlook for 2024.

Fourth quarter earnings for STOXX 600 companies are expected to decrease 8.5 on a yearlybasis, down from an expected 8.8 decrease last week, LSEG data showed.

Meanwhile in the United States, stock indexes had a tepid start to the day ahead of the Federal Reserve39;s monetary policy decision on Wednesday.

Geoff Yu, EMEA macro strategist at BNY Mellon, said the January meeting should be a nonevent but it39;s the March meeting that39;s going to be far more important … we just…