Market Update
European stocks were trading with slim gains during opening trades Wednesday even as investors keenly awaited the Federal Reserve's decision at the end of its two-day policy meet later today.
Investors are expecting the central bank would announce a reduction in its monthly asset purchase program today.
London's FTSE 100 edged up 0.1% at 9:55 a.m. local time. The CAC 40 Paris rose 0.3% while the DAX Frankfurt also added 0.3% at the time of writing.
Markets have been eyeing this event for long, and although interest rates are likely to remain low, any sort of an announcement, whether it involves a tapering or not, would have a bearing on the markets in the days to come.
Stocks on the Move
Financials were trading mixed. Societe Generale SA tacked on over a percent while Credit Agricole SA added 0.5% in France.
In London, Lloyds Banking Group Plc. improved 1.2% and HSBC Holdings added a percent. But Barclays Plc. plunged more than 6%.
Among German lenders, Deutsche Bank AG was flat while Commerzbank AG eased 0.4%.
In the resources segment, Rio Tinto plc. dropped 1.9% while BHP Billiton Plc. slipped 0.7%. Glencore Xstrata Plc. gave up 1.2%.
In stock-specific moves, Alstom SA lost 1.5% after the company proposed to cut costs in the wake of lower than expected growth.
French car maker Peugeot SA added 0.9% amid reports the company is considering a deal with its Chinese partner Dongfeng.