Soon we’ll not be supporting this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Skip to main content
  • Register
  • Help
  • Contact us

Europe close: Stocks little changed ahead of 'crucial' Fed meeting

Wed 16 June 2021 17:48 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

Market latest

FTSE 100 | FTSE 250 | Paris CAC 40 | Dow Jones | NASDAQ

7107.65 | Positive 25.93 (0.37%)
Graph

Prices delayed by at least 15 minutes

(Sharecast News) - European shares were mostly higher on Wednesday as investors waited on news of the US Federal Reserve's two-day policy meeting that was scheduled to end later the same day.

"What little activity there has been in markets has dropped to a barely noticeable level ahead of the Fed meeting, which even the legend Paul Tudor Jones has described as the 'most crucial in [Jerome] Powell's career'," said IG chief market analyst Chris Beauchamp.

"Markets have been in deep freeze the last few days waiting for tonight's decision, but those hoping for a mis-step from the chairman will probably be disappointed - he knows where the questions will focus and will be determined not to be caught on the hop."

Against that backdrop, the pan-European Stoxx 600 was up 0.23% at 459.86 with Britain's FTSE 100 up 0.17% to 7,184.95 despite an unexpected spike in inflation above the Bank of England's 2% target in May.

The standard CPI reading leapt from 1.5% to 2.1%, while the core figure surged from 1.3% to 2%.

Gains on the commodity-heavy index were boosted by a rise in in Brent crude to its highest since April 2019.

In company news, shares in French retailer Colruyt fell to the bottom of the Stoxx, down 9.6% as the company pulled forward guidance as full year comparable revenue rose 1.7%.

    Daily market update emails

    • FTSE 100 riser and faller updates
    • Breaking market news, plus the latest share research, tips and broker comments

    Register now for free market updates

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.