European Shares Poised For Mixed Open

RTTNews | 163天前

(RTTNews) - European stocks may open on a mixed note Wednesday, with geopolitical tensions and the Fed's interest-rate decision likely to be in the spotlight.

Geopolitical tensions intensified, with Iran-backed Houthi rebels claiming their fourth attack on a U.S. warship in the Red Sea within 72 hours and Israel saying ceasefire negotiations with Hamas will only take place 'under fire'.

Russian President Vladimir Putin has ordered a 30-day pause on strikes on Ukraine's energy sites but insists peace depends on the "complete cessation" of Western military and intelligence aid.

Asian markets were muted while the yen held steady after the Bank of Japan held rates as expected.

The euro hovered close to the five-month high it reached on Tuesday after Germany's parliament approved plans for a significant increase in spending.

The dollar index was little changed ahead of the Federal Reserve's monetary policy announcement later in the day.

The U.S. central bank may keep rate steady, but the accompanying statement as well as the latest projections may provide clues about the outlook for rates in 2025.

Traders are pricing in 58 basis points of easing this year from the Fed, with the first cut fully priced in for July, according to LSEG data.

Gold hovered near record highs while oil held a decline after industry data pointed to a build in U.S. crude stockpiles.

U.S. stocks pulled back overnight after a two-day rally. As recession fears rise, encouraging industrial production and housing data helped cap overall losses to some extent.

The tech-heavy Nasdaq Composite fell 1.7 percent, the S&P 500 shed 1.1 percent and the Dow eased 0.6 percent amid concerns over President Trump's on-again-off-again tariff policy.

European stocks closed higher on Tuesday after Germany's Bundestag approved a crucial fiscal package, allowing the country to increase defense spending and infrastructure investment.

The pan European STOXX 600 gained 0.6 percent. The German DAX rallied 1 percent, France's CAC 40 rose half a percent and the U.K.'s FTSE 100 edged up by 0.3 percent.

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