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FTSE 100 Little Changed As Commodity Stocks Drag
(RTTNews) - U.K. stocks were little changed on Wednesday as energy stocks fell after a sharp decline in oil prices overnight.
The benchmark FTSE 100 was marginally higher at 7,563 after climbing 1.4 percent in the previous session.
Oil & gas firm BP Plc lost 3 percent and Shell declined 2.7 percent as oil prices fell nearly 2 percent in European trade, after having fallen more than 4 percent in the U.S. trading session amid a deteriorating fuel demand outlook in China.
Miners Anglo American and Antofagasta both fell around 1 percent while commodity trading and mining firm Glencore lost nearly 5 percent.
Banks HSBC Holdings and Barclays rose around 1 percent each on expectations that they would benefit from higher interest rates.
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DAX Moves In Tight Range; Earnings, Fed Policy Announcement In Focus
German stocks are turning in a mixed performance on Wednesday with investors mostly reacting to corporate earnings announcements and awaiting the Federal Reserve's interest rate decision due later in the day. The European Central Bank is scheduled to announce its monetary policy on Thursday.
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Pound Slides Against Majors
The British pound weakened against other major currencies in the European session on Wednesday.
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European Shares Mixed Ahead Of Fed Verdict
European shares were mixed on Wednesday as investors digested a slew of earnings and looked ahead to the Federal Reserve's interest-rate decision later in the day, with a 25-bps cut fully priced in.
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Asian Shares Rise Ahead Of Fed Decision
Asian stocks rose broadly on Wednesday, with benchmark indexes in Japan and South Korea reaching new record highs, ahead of a Federal Reserve interest-rate cut expected later in the day.
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Aussie Rises As Robust Inflation Data Spurs RBA Rate Cut Pause
The Australian dollar strengthened against other major currencies in the Asian session on Wednesday, as traders' bet on rate cut pause by the Reserve Bank of Australia (RBA), following the release of robust Australia's Consumer Price Index (CPI) data.
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European Shares Seen Tad Lower At Open
European stocks may open a tad lower on Wednesday as investors await the Federal Reserve's interest-rate decision as well as earnings from the five "Magnificent Seven" companies for direction.
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Australian Dollar Rises Against Majors
The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.
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European Economic News Preview: UK Mortgage Approvals Data Due
Mortgage approvals data from the UK and flash GDP estimates from Spain are due on Wednesday, headlining a light day for the European economic news. At 3.00 am ET, Statistics Sweden releases preliminary GDP data for the third quarter. The economy is forecast to grow 0.8 percent sequentially after rising 0.5 percent a quarter ago.
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