Slight moves for European stocks ahead of US Fed rate decision

European stocks moved in a narrow range today, Wednesday, as investors refrained from risky bets ahead of an upcoming decision by the Federal Reserve (US Central) regarding interest rates and the future of monetary policy.

According to Reuters, the European Stoxx 600 index rose slightly by 0.1% by 0810 GMT, with the rise of shares of the real estate and technology sectors, which are highly sensitive to interest, and the shares of energy companies falling due to the decline in oil prices.

Investors expected the US Central Bank to keep interest rates unchanged later on Wednesday, as US inflation data released on Tuesday did little to change bets on lowering interest rates next year.

The focus will be on the statements of US Federal Reserve Chairman Jerome Powell and expectations of interest rates in the short term to anticipate indicators on the timing of easing monetary policy.

Entain Betting and Gambling shares jumped 4.6% with the announcement of the company’s CEO stepping down with immediate effect.

Shares of the German chemical giant BASF increased 3.2% after UBS raised the recommendation for the company’s stock to buy from sell, which pushed the chemicals sector to rise about 1%.

LVMH shares lost 1% after JP Morgan lowered its recommendation to buy shares of the giant luxury goods company.