Europe close: Equities mostly higher on robust earnings

LONDON (ShareCast) - European equities were mostly higher, buoyed by robust earnings from companies including L'Oreal, Actelion (Xetra: 936767 - news) and SAP (Swiss: SAP.SW - news) . Actelion gained as it raised its full-year forecast after quarterly profit surpassed analysts' estimates.

SAP' s shares climbed after reporting first-quarter sales that beat forecasts, supported by a weaker euro.

L'Oreal SA's first-quarter sales were also boosted by a weak euro with a 14% increase, sending shares higher.

In economic data, ZEW's index measuring German economic sentiment fell to 53.3 in April from 54.8 a month earlier, compared to the expected reading of 55.3.

"The current weakness of the world economy is dampening export prospects and reducing the scope for further improvements of the economic situation in Germany," ZEW President Clemens Fuest said.

Greek debt Greece is expected to sign a new deal with its European creditors as "money is starting to run out", said Jeroen Dijsselbloem, president of the Eurozone's group of finance ministers.

Speaking in an interview with broadcaster RTL, cited by Reuters, he added that a Greek exit was "not an option".

Earlier on Tuesday, it emerged that the European Central Bank was looking into measures to rein in emergency liquidity assistance to Greek banks if Athens fails to convince Dijsselbloem's Eurogroup that the country can implement reforms and unlock further financial aid.

Greek Prime Minister Alexis Tsipras will present plans to reform Greece's economy to a meeting of Dijsselbloem's Eurogroup in Riga on Friday, 24 April.

The euro rose 0.22% to $1.0762 at close.

Credit Suisse (NYSE: CS - news) , Rio Tinto (Xetra: 855018 - news) Credit Suisse Group AG slid over concerns the bank may have to raise capital as analysts highlighted a drop in the group's key capital ratio measure and a poor performance in areas of its investment banking division.

Rio Tinto declined after posting an increase in first-quarter iron production that trailed forecasts.

Publicis Groupe (Other OTC: PGPEF - news) , the French parent company of advertising agency Saatchi & Saatchi, jumped after reporting a 32% rise in first quarter sales that beat analysts' expectations.

Brent crude fell 1.06% to $62.78 per barrel at 16:54 BST and West Texas Intermediate dropped 0.57% to $57.55.