FGM - European markets tick higher in cautious trade; eyes on Fed verdict
2023-09-20 04:01:00 ET
London +0.64%
Germany +0.41%
France +0.06%
UK stocks advanced on Wednesday after data showed a fall in inflation in August , raising hopes that the Bank of England was nearing the end of its interest rate hiking cycle .
The pan-European Stoxx 600 ( STOXX ) edged up 0.25% in cautious trade on Wednesday, with sectors spread across marginally positive and negative territory, as investors awaited the latest monetary policy decision from the U.S. Federal Reserve.
Health-care stocks led the gains, while oil and gas dipped.
Coming up in the session: Speeches by Isabel Schnabel, Member of the Executive Board of the ECB, Kerstin af Jochnick, Member of the Supervisory Board of the ECB, European Union 3-month and 6-month bill auction. The Bank of England is likely to hike interest rates for the 15th time on September 21, while the Fed seems set for a hawkish pause.
In the bond market, the U.S. 10-year Treasury yield were roughly flat at 4.36%.
Germany's 10-year yield held steady at 2.74%.
U.K.'s 10-year yield was down 7 basis points to 4.28%.
Currencies: ( EUR:USD ) ( GBP:USD ) ( CHF:USD )
ETFs: ( EWG ), ( GF ), ( EWI ), ( EWQ ), ( EWGS ), ( FGM ), ( DBGR ), ( DXGE ), ( HEWG ), ( DAX ), ( FLFR ), ( FLGR ), ( FLIY ), ( FXB ), ( EWU ), ( FKU ), ( EWUS ), ( HEWU ), ( FLGB ), ( GREK )
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European markets tick higher in cautious trade; eyes on Fed verdict