European Markets Witness Decline

(MENAFN) On the third trading session of the week, European equity markets concluded with declines, as market participants turned their attention to corporate earnings and upcoming decisions on monetary policy by the US Federal Reserve.

The broad-based Stoxx Europe 600 index slipped by 0.54 percent, settling at 533.47 points.

The retail sector registered the steepest decline among sectors, plummeting by 2.2 percent, making it the worst performer of the day.

Among individual markets, France’s CAC 40 index retreated by 0.91 percent to close at 7,626.84 points.

Meanwhile, Germany’s DAX 40 index decreased by 0.58 percent, ending the day at 23,115.96 points.

The UK’s FTSE 100 shed 0.44 percent, finishing at 8,559.33 points, while Italy’s FTSE MIB 30 dropped 0.62 percent, settling at 38,319.89 points by the market close.

The euro-to-dollar exchange rate stood at 1.1346 as of 17:15 GMT, reflecting a 0.21 percent dip.

Market sentiment was primarily shaped by anticipation around the Federal Reserve's monetary policy updates expected later on Wednesday, as well as forthcoming comments by Fed Chair Jerome Powell.

Investors were especially focused on Powell's response to United States Leader Donald Trump's demand to cut interest rates.

Despite these political pressures, financial markets broadly anticipate that the central bank will resist such demands and keep the benchmark interest rates steady.

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