The European shares opened in a positive territory on Wednesday, while investors awaits final conclusion from the Federal Reserve’s two-day meeting. The Federal Reserve’s policy statement may hint when the central bank will narrow its $85 billion monthly asset-purchasing program.
European Euro Stoxx 50 rose 0.16% to 2,705.15 as of 7.01am GMT. While futures for the French CAC 40 were up 0.10% to 3,864.49 at the same time .Germany’s DAX futures increased 0.21% to 8,246.57 and the UK FTSE 100 futures gained 0.29% to 6,375.50 as of the same time.
Over $2 trillion has been wiped out from the global stocks since May 22, when Fed Chairman Ben S. Bernanke hinted the central bank could slowdown its monthly asset-purchasing program if the economy growth picked up.
“Although we don’t expect the Fed to decide to scale back its asset purchases today, we do think the prospect of an eventual tapering will continue to dampen capital inflows into emerging-market equities in particular, as it undermines investors’ appetite for risk,” chief markets economist John Higgins wrote in a note to clients.
Spain’s trade balance is expected to record a sum of 300 million euros in April, compared to previous month record of 600 million euros.
In the Asian market, the Japanese stock increased after a strong trade data indicated exports increased 10.1% in May, the most since 2010, while the Korean and Chinese stocks were weak before the outcome of the Federal Reserve meeting.
The Chinese Shanghai Composite lost 0.78% to 2,140.28 as of 6:09am GMT, while the Hang Seng fell 0.55% to 21,108 at the same time. The Topix index rose 1.1%, while the MSCI Asia Pacific index advanced by 0.4%.
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