European stocks edge higher ahead of US stimulus decision

2020-07-29 13:03:56 GMT (Economies.com)
European stocks edge higher ahead of US stimulus decision

European stocks edged up on Wednesday, to extend gains for the second straight session, rebounding from a 2-week low, but remain range bounded amid anticipation for the Federal Reserve's decisions on the US stimulus plans.

 

The Stoxx Europe 600 index rose 0.1% as of 11:25 GMT, after it gained 0.1% yesterday, posting the first daily gain in 5 days, as the defensive stocks rebounded.

 

The pan European index opened slightly higher today, to rebound from a 2-week low of 364.75 points, with most of the major European markets and sectors seeing green today.

 

The retail sector saw the largest gains in Europe today, rising 1.5%, thanks to upbeat business results for the second quarter by major companies.

 

The Federal Open Market Committee is wrapping up its policy meeting today, which is expected to deliver key insight on the future of the US stimulus plans amid the gloomy inflation outlook. 

 

The US monetary policy statement and interest rate decision will be unveiled at 18:00 GMT, and Fed Chairman Jerome Powell will deliver a speech at 18:30 GMT.

 

S&P 500 futures rose 0.3%, after the index closed lower by 0.6% yesterday at Wall Street, due to concerns over the US consumer confidence.

 

Back to Europe, the Euro Stoxx 50 index rose 0.2%, France's CAC 40 rose 0.8%, Germany's DAX added 0.1%, and the UK's FTSE 100 rose 0.2%.

 
 
 
  Symbol Last Change Chg.%
1.1817
0.0107
0.9099%
1.3076
0.0061
0.4656%
Tadawul
7499.97
10.08
0.13%
28.089
3.842
15.845%
41.475
1.040
2.572%
44.60
-0.46
1.02%
2055.235
85.880
4.361%
 
 
US
 
Europe
 
Asia