EUROPE MARKETS: ARM Helps Flex Gains For European Markets

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- European stocks pushed higher Tuesday, with Russian shares looking for their first gain in seven sessions, but Publicis Groupe SA was among decliners following a sales warning from the French advertising heavyweight.

The pan-European Stoxx Europe 600 index rose 0.7% to 340.19, erasing Monday's loss of 0.5%.

Russia's blue-chips MICEX Index picked up 1.2% at 1,400.96, led by a 3.1% advance for state-run Aeroflot and a 2.2% rise for VTB Bank .

The MICEX on Monday slid 2.7%. U.K. Prime Minister David Cameron on Monday called on European leaders to impose sanctions against the Russian oil, banking and defense industries if the government continues supplying weapons and other support to pro-Russian rebels in Ukraine, according to news reports. Russian separatists have been blamed for downing a Malaysia Airlines passenger flight last week that killed all 298 passengers and crew members.

European Union foreign ministers will meet later Tuesday in Brussels to discuss imposing tougher sanctions against Russia.

Topping gainers on the Stoxx 600 was IG Group Holdings PLC. Shares jumped 5.9% after the spread betting and derivatives trading services company said full-year profit rose even as it reported a "subdued backdrop" late in the year.

Arm Holdings shares climbed 3.7% after the computer-chip designer said second-quarter profit rose on higher chip shipments and licensing revenue.

But shares of Credit Suisse Group (CS) fell 1.6% after the Zurich-based bank posted a larger-than-expected second-quarter loss stemming from a U.S. legal settlement reached two months ago.

Publicis Group SA dropped 5.7%, with Chief Executive Maurice Lévy saying the company may not reach its full-year sales-growth target. Publicis reported a decline in profit and lower sales growth than expected for the first half of the year. A planned merger with Omnicom Group Inc. (OMC) collapsed earlier this year.

In Paris, the CAC 40 index rose 0.5%. Meanwhile, Germany's DAX 30 index rose 0.5% and the U.K.'s FTSE 100 index tacked on 0.6%.

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