French stocks were little changed on Wednesday as investors awaited the outcome of the Federal Reserve’s two-day monetary policy meeting later in the day.
The Fed will conclude its March meeting at 2:00 pm ET. The central bank is widely expected to leave interest rates unchanged, but traders will be paying close attention to any changes in the accompanying statement.
Market participants are focused on the Fed’s outlook for rates and the economy amid improving economic situation.
All eyes are on Powell’s comments regarding the central bank’s plans to address rising yields in the future.
The benchmark CAC 40 index was marginally lower at 6,051 after closing up 0.3 percent on Tuesday.
Automaker Renault jumped around 3 percent after German rival BMW forecast significant year-on-year increase in group profit in 2021.
Meanwhile, Europe’s new car registrations logged another double-digit decline in February as the Covid-19 containment measures and uncertainty continue to weigh on demand, the European Automobile Manufacturers’ Association said.
New car registrations declined 19.3 percent year-on-year in February, but slower than the 24 percent decrease seen in January.
Market Analysis
CAC 40 Little Changed As Focus Turns To Fed
2021-03-17 09:10:39
