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By Bloomberg

European stocks were little changed, paring earlier gains, amid corporate earnings and before a Federal Reserve rate decision.

The Stoxx Europe 600 Index added less than 0.1 percent to 406.49 at 10:13 a.m. in London, paring an advance of as much as 0.5 percent. The gauge swung between gains and losses at least six times. Volkswagen AG and Cie. de Saint-Gobain SA rose at least 1.3 percent after quarterly results beat estimates. Antofagasta Plc and Outokumpu Oyj paced losses in miners.

Europe’s benchmark gauge tumbled yesterday amid losses in health-care shares. It has still surged 19 percent in 2015 and last reached a record on April 15.

“European markets have gone up a lot during the first quarter on hopes that earnings are going to be good,” said Pierre Mouton, who helps oversee $8 billion at Notz, Stucki & Cie. in Geneva. “Now that we’re in the earnings season, it shouldn’t come as a surprise the market is a little bit more volatile.”

Investors are also awaiting cues from the Fed on the timing of a rate increase, after data pointed to a weakening U.S. economy. It expanded at a slower pace in the first quarter, a report at 8:30 a.m. in Washington may show. The Fed will probably hold rates at a record low this month, economists forecast before a decision due after European markets close.

“There seems to be a period of wait and see regarding the Fed decision,” Mouton said. “For any substantial move higher we need good earnings and a strong U.S. economy.”

Winning Streak

The Greek ASE Index rose 0.6 percent for a sixth day of gains, the longest streak since August. Greece will remain in the euro zone, the European Union’s ambassador to the U.S. predicted on Tuesday, while an International Monetary Fund official said the risk of the debt-ridden country leaving the currency union is very low.

Among stocks moving on corporate news, Svenska Handelsbanken AB added 1.2 percent and Subsea 7 SA jumped 3.8 percent after they reported better-than-forecast profit in the first three months of the year. Hermes International SCA and Next Plc climbed at least 3 percent after both companies said quarterly sales increased.

Miners fell the most among 19 Stoxx 600 industry groups. Antofagasta lost 2.9 percent after saying quarterly copper output slumped. Outokumpu tumbled 11 percent as it forecast a loss in the second quarter.

Banco Bilbao Vizcaya Argentaria SA fell 1.5 percent after the Spanish lender said net interest income declined from the previous quarter. Storebrand ASA slid 7.3 percent after profit declined more than estimated.