European stocks remain higher despite early US losses

European stock markets remained higher Tuesday despite early losses on Wall Street after profit warnings from Texas Instruments Inc. and FedEx Corp. reminded US investors of the tough economic times ahead. In Europe, the FTSE 100 index of leading British shares was 59.99 points, or 1.4 percent, higher at 4,360.05, while Germany's DAX was up 36.06 points, or 0.8 percent, at 4,751.94. The CAC-40 in France rose 38.59 points, or 1.2 percent, to 3,286.07. Early trading on Wall Street was not as perky, with the Dow Jones industrial average down 90.24 points, or 1.0 percent, at 8,843.94. The broader Standard & Poor's index was 5.33 points, or 0.6 percent, at 904.37. The US losses came as FedEx late Monday cut its forecast for earnings and capital spending for the fiscal year 2009 amid lower package deliveries. Chip maker Texas Instruments warned of a significant, broad-based deterioration in business and forecast fourth-quarter earnings and revenue substantially below earlier expectations.