European shares swing sideways as Q3 earnings keep rolling in

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets)

LONDON, Oct (Shenzhen: 000069.SZ - news) 24 (Reuters) - European bourses and indexes were trading sideways at the opening of markets on Tuesday, as a new set of third-quarter earnings pulled companies' stocks sharply in different directions.

The pan-European STOXX 600 was broadly flat, up 0.02 percent, with London's FTSE 100 retreating 0.1 percent, Paris's CAC 40 rising 0.3 percent and Germany's DAX flat.

Apple (NasdaqGS: AAPL - news) supplier AMS (IOB: 0QWC.IL - news) made a spectacular jump after it reported its earnings, rising close to 20 percent in the first minutes of trading before settling around 15 percent higher. "While Q3 is a miss on revenues, the revised guidance for Q4 is way ahead of consensus", Morgan Stanley (Xetra: 885836 - news) said in a research note.

Peers exposed to the iPhone X ramp also rose, with Dialog Semiconductor up 3.3 percent and STMicroelectronics (Amsterdam: ST8.AS - news) up 0.5 percent.

Spain's Caixabank (Amsterdam: CB6.AS - news) lifted the IBEX with a 2.3 percent rise after posting a 53 percent jump in nine-month net profit, ahead of analysts' forecasts. After lagging behind its peers on Monday due to the Catalan crisis, the IBEX bounced back with a 0.4 percent increase.

In Sweden, mining company Boliden (LSE: 0MI5.L - news) disappointed investors with its trading update and fell more than 9 percent, while on the other hand defence firm Saab (LSE: 0GWL.L - news) rose 5.5 percent after it reported order bookings and profits above market forecasts. (Reporting by Julien Ponthus; Editing by Georgina Prodhan)