European Shares Close Mixed as Investors Await Fed Outcome
By Investors Hub
European stocks are trading mixed on Wednesday as global trade tensions linger and investors look ahead to the release of the Fed meeting minutes for direction.
Investors remain worried about a protracted US-China trade war after the New York Times reported that the Trump administration is considering placing limits on Chinese video surveillance firm Hikvision’s ability to buy U.S. technology.
Ahead of the release of the Fed minutes, St. Louis Fed President James Bullard said there is a case for lowering interest rates if inflation doesn’t appear on track to rise back to desired levels.
While the UK’s FTSE 100 Index is just above the unchanged line, the German DAX Index and the French CAC 40 Index are down by 0.4 percent and 0.5 percent, respectively.
Royal Mail has jumped after announcing it would introduce a second daily delivery of parcels, to be fully operational by 2023.
Online trading major IG Group Holdings has also moved sharply higher on the day after unveiling a plan to drive growth.
On the other hand, British retailer Marks & Spencer has tumbled after it reported a 10 percent drop in full-year profit, marking a third straight decline.
In economic news, UK consumer price inflation accelerated in April, while output price inflation eased slightly, figures from the Office for National Statistics revealed.