European Shares Inch Up Before Fed Decision; UK Inflation Holds Steady Ahead Of BoE Meeting
(RTTNews) - European stocks edged higher on Wednesday ahead of the U.S. Federal Reserve's interest-rate decision later in the day.
With a 25-bps rate cut expected, the focus would be on Fed Chair Jerome Powell's comments on policy outlook.
In economic releases, the latest U.K. inflation data reinforced expectations that the Bank of England will keep rates unchanged this week.
According to the Office for National Statistics, the consumer price index rose 3.8 percent on a yearly basis in August, the same rate of increase as seen in July and matching economists' expectations.
The 3.8 percent inflation was the joint-highest recorded since January 2024, when the rate was 4.0 percent.
The pan European STOXX 600 edged up by 0.2 percent to 551.78 after having fallen by 1.1 percent on Tuesday, pressured by steep losses in the financial sector.
The German DAX gained half a percent and France's CAC 40 inched up 0.1 percent.
The U.K.'s FTSE 100 was up 0.1 percent as U.S. President Donald Trump arrived in the U.K. for his second state visit.
In corporate news, French catering and facility management group Sodexo rose about 1 percent after renewing a contract with Shell for five years.
German wind turbine maker Nordex rallied 2.7 percent after receiving its first order from Ecuador.
Dutch postal operator PostNL jumped 3.4 percent after announcing its 'ambitious' 2028 targets.
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