FRANKFURT / LONDON (IT BOLTWISE) – European stock markets were little moved on Wednesday as investors awaited the US Federal Reserve’s monetary policy decision. While a rate cut of 25 basis points was expected, there was uncertainty about what would happen next. Siemens Energy rose 4.3 percent while defense stocks fell.
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European stock markets were largely stable on Wednesday as investors awaited the US Federal Reserve’s upcoming monetary policy decision. A rate cut of 25 basis points was widely expected, but uncertainty about future interest rate policy caused reluctance. Particular focus was on comments from Federal Reserve Chairman Jerome Powell, which could potentially signal high hurdles for further interest rate cuts.
The DAX lost slightly by 0.1 percent and closed at 24,130 points, while the Euro-Stoxx-50 fell by 0.2 percent. The bond market remained quiet and market interest rates barely moved. The euro rose slightly and was last traded at $1.1649. Siemens Energy was the daily winner in the DAX with an increase of 4.3 percent, which was due to positive news from US competitor GE Vernova.
Across Europe, defense stocks fell after rising sharply the day before. Traders pointed to a new U.S. peace initiative for Ukraine as the reason for the decline. The Stoxx industry index for defense stocks fell by 1.3 percent, making it the worst performer. Deutsche Börse reacted with a loss of 2.0 percent to the publication of medium-term targets up to 2028, which promised solid growth but also caused skepticism.
However, some companies recorded positive developments. Munich Re rose 1.1 percent after a solid outlook for the coming year, while Hannover Re rose 1.2 percent. Delivery Hero jumped 13.7 percent as the food delivery company announced measures to improve its share price. British online grocer Ocado also recorded a strong increase, up 16.4 percent, supported by positive market data.
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