Most European stocks gained

Most European stocks gained, extending a five-year high for the Stoxx Europe 600 Index, as companies from Royal Philips NV to Akzo Nobel AG reported profit that beat estimates. Asian shares advanced and U.S. index futures were little changed.

In the U.S., the Fed will maintain its monthly bond-buying program until March after a 16-day government shutdown trimmed fourth-quarter economic growth by 0.3 percentage point and disrupted the flow of data, according to the median forecast of economists in a Bloomberg survey conducted Oct. 17-18. Policy makers will taper asset purchases to $70 billion from $85 billion, the poll forecast.

In Japan, exports increased 11.5 percent in September from a year earlier, a finance ministry report showed. That compared with a 14.6 percent advance in August and trailed the 15.6 percent gain forecast by economists in a Bloomberg survey.

Philips climbed 6.4 percent to 25.99 euros, the highest price since July 2010. The company said third-quarter earnings before interest, taxes, amortization and one-time items rose to 634 million euros ($867 million), compared with the 567 million-euro average estimate of analysts in a Bloomberg survey.

Akzo surged 8.3 percent to 52.44 euros, the biggest gain in two years, after saying earnings before interest, taxes, depreciation and amortization climbed 7 percent to 456 million euros. Analysts on average estimated 444 million euros.

FTSE 100 6,632.48 +9.90 +0.15%

CAC 40 4,273.09 -12.94 -0.30%

DAX 8,853.37 -11.73 -0.13%