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European Equities Trade Mixed as Investors Await Fed Outcome

By Investors Hub

European stocks are turning in a mixed performance as investors turn their attention to a monetary policy announcement from the Federal Reserve due later in the day.

No change in the Fed rate is expected, but traders will be looking for clues as to whether there will be a December rate hike.

While the U.K.?s FTSE 100 Index has risen by 0.4 percent, the French CAC 40 Index is just below the unchanged line and the German DAX Index is down by 0.1 percent.

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British drugmaker Hikma Pharmaceuticals has jumped after raising full-year revenue expectations for its injectables division.

HeidelbergCement has also moved to the upside in Frankfurt. The cement maker affirmed its full-year profit outlook after reporting a 12 percent increase in third quarter earnings.

Siemens has also advanced after the engineering firm raised dividend and announced a share buyback.

Commerzbank has moved sharply higher after the German lender reported a decline in third quarter earnings but backed its full-year outlook and maintained its dividend pledge.

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Societe Generale shares have also jumped in Paris. The French lender reported a 32 percent increase in third-quarter net income on strong revenue growth.

Meanwhile, Italian lender UniCredit has tumbled after its third quarter net profit fell 99 percent to 29 million euros from 2.82 billion euros last year.

Inmarsat has also slumped in London after the mobile satellite company reported a drop in revenue in its major Maritime division.

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In economic news, German exports and imports unexpectedly declined in September, official data revealed.

Exports dropped 0.8 percent month-on-month, reversing a 0.1 percent rise in August. At the same time, imports slid 0.4 percent following August’s 2.4 percent decrease. Economists had forecast a 0.3 percent rise in exports and a 0.8 percent increase in imports.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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