European Stock Markets Cautious, FOMC in Focus
European stocks fell on Wednesday, with the STOXX 50 down 0.2% and the STOXX 600 down 0.3%, as investors remained cautious ahead of the Federal Reserve’s monetary policy decision later in the day. The central bank is widely expected to keep the federal funds rate unchanged, but all eyes will be on clues about the future path of monetary policy. Meanwhile, traders also digested a fresh batch of corporate earnings, while news that the U.S. and China will hold trade talks this week in Geneva did little to boost investor confidence. On the earnings front, Novo Nordisk shares rose more than 3% after the company posted better-than-expected net income, although it lowered its full-year sales growth forecast. BMW rose 3.7%, although its first-quarter profit fell 23%. In contrast, Siemens Healthineers fell 1.6% after the company revised down the lower end of its annual profit forecast. Fresenius fell 0.5% as results failed to impress investors.
Source: Trading Economics
