European markets mixed ahead of Fed rate call

European stock markets diverged at the open on Wednesday as investors await the US Federal Reserve’s latest decision on interest rates, AFP reported.

London’s FTSE 100 index slipped 0.1 percent to 7,587.83 points in early trades even as data showed that the UK economy rebounded in April after a contraction in the previous month.

The Paris CAC 40 rose almost 0.2 percent to 7,301.49 points while the Frankfurt DAX was flat at 16,235.84.

The Fed will announce later Wednesday whether it will pause its rate-hike campaign or increase borrowing costs for an 11th time in a row in efforts to combat inflation.

Investors expect a halt after official data on Tuesday showed that consumer prices cooled again in May at 4.0 percent compared to a 4.9 percent rise in April.