London — Wednesday saw gains in European stocks ahead of the most recent inflation data and Federal Reserve decision from the United States. With most sectors in the green, the pan-European Stoxx 600 was 0.54% higher at 12:30 p.m. London time.
Autos declined 0.4% as traders considered the impact of potential litigation in Britain for allegedly manipulating emissions tests. Banking stocks led gains, closing the day 1.37% higher.
Although the monthly GDP growth rate was less than March’s 0.4% expansion, it was nonetheless in line with estimates.
In other news, the country’s May inflation report will be released just hours before the U.S. Federal Reserve makes its decision on Wednesday.
Source (CNBC)
