European stocks rise near 6-week high ahead of US Federal Reserve decisions

2019-06-19 11:50:09 GMT (
European stocks rise near 6-week high ahead of US Federal Reserve decisions

European shares rose marginally on morning trade on Wednesday, extending gains for the second consecutive session, near six-week highs recorded in the previous session. The rally is limited as investors wait for Federal Reserve decisions later today at the end of their monetary policy meeting.


Stoxx Europe 600 rose less than 0.1% at 10:39 GMT, while the index ended yesterday's session up by 1.5%, the first gain in the last three sessions, reaching a six-week high, after the Governor of the European Central Bank, Mario Draghi's comments .


"If the economic situation in the euro zone deteriorates in the coming months, the ECB will announce further stimulus," Draghi said.


Stoxx Europe 600 rose marginally on Wednesday to trade near the six-week high, while the rally remains limited amid a mixed performance of most European stock markets and major sectors.


The auto industry rose more than 0.7% after positive news about the US-China trade dispute, while the retail sector fell more than 1.2%.


US President Donald Trump on Wednesday announced a meeting with Chinese President Xi Jinping on the sidelines of the G20 summit in Japan next week.


S&P 500 futures rose by 0.1%, and the index ended yesterday's session on Wall Street up by 1.0%, the second daily gain, respectively.


The Federal Reserve will conclude its monetary policy meeting later today, with expectations that interest rates will remain unchanged at 2.50%, with new evidence expected on the possibility of a US rate cut in the next few months.


The Euro Stoxx 50 index rose by 0.1%. while in France CAC 40 index gained 0.1%. with Germany's DAX rising 0.05%. and in London, the FTSE 100 index shed more than 0.2%.

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