STOXX 600 flat ahead of Fed decision, Renault jumps
2024.12.18 04:11
(Reuters) – European stocks were little changed on Wednesday as caution prevailed ahead of the Federal Reserve’s policy decision and outlook, outweighing a rise in Renault (EPA:) on talks of a potential merger between carmakers Honda (NYSE:) and Nissan (OTC:).
The pan-European was trading flat by 0813 GMT.
French carmaker Renault rose 6%, lifting automakers by 0.8%. The company owns a 36% stake in Nissan.
Food & beverage and healthcare stocks declined 0.4% and 0.3%, respectively.
Meanwhile, the Fed is widely expected to cut rates by 25 basis points later on Wednesday, in what some observers are calling a “hawkish cut”, set to be delivered alongside policymakers’ updated interest rate outlooks and economic forecasts.
The UK’s rose 0.2% as sterling came under pressure ahead of the Bank of England’s rate decision on Thursday.
Commerzbank (ETR:) jumped 3.7% after Italian bank UniCredit said it had raised its potential stake in the German lender to 28% by signing new derivatives contracts.
