European markets mixed as investors gear up for Fed meeting, react to earnings; HelloFresh up 21%

CNBC-LONDON — European stocks were mixed on Tuesday after a strong start to trading in November

The pan-European Stoxx 600 hovered fractionally below the flatline by mid-afternoon, with mining stocks shedding 3% to lead losses while health care stocks added 0.7%

Investors around the world are gearing up for a busy week of corporate earnings, a key U.S. Federal Reserve meeting and October’s U.S. jobs report (out on Friday) which will give the latest indication of the state of health of the world’s biggest economy

The Federal Reserve’s highly-anticipated Federal Open Market Committee meeting kicked off on Tuesday. It is widely expected to lead to the central bank announcing it will begin to wind down its $120 billion in monthly bond purchases and end the program entirely by the middle of 2022

Investors will also be looking for the Fed’s comments on rising prices as inflation has been running at a 30-year high. The meeting concludes on Wednesday

In other news, global investors are following developments at the COP26 climate summit in Glasgow. The UN summit is widely seen as a make-or-break moment for global leaders to take decisive action to limit carbon emissions but hopes are not high for ambitious targets

Shares in Asia-Pacific were mixed in Tuesday trade, with South Korea leading gains in the region. Australia’s central bank announced its decision to keep its cash rate target unchanged. U.S. stock futures were slightly lower in overnight trading

European earnings were also in focus on Tuesday with the latest figures coming from Fresenius, HelloFresh, DSM, Adecco Group, Standard Chartered, BP and Ferrari

Oil and gas giant BP beat third-quarter earnings expectations on Tuesday, fueled by surging energy prices

The British energy major posted an underlying replacement cost profit, a proxy for net profit, of $3.3 billion for the third quarter, above analyst estimates of $3.1 billion, according to Refinitiv