Sunday, 05 July 2020
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European stocks close mixed as investors monitor Fed meeting; auto stocks rise

European stocks ended the session little changed on Wednesday ahead of a much-anticipated U.S. Federal Reserve decision on interest rates.

The pan-European Stoxx 600 hovered around the flatline at 384.77 in the end of the session , with sectors and major bourses mixed. Basic resources led the losses with a 1.5% decline while autos and bank stocks both rose around 1%.

In terms of individual stocks, German telecommunications company 1&1 Drillisch topped the European blue chip index, with shares gaining 9.5% by the end of the session. It comes after the telecoms firm won spectrum in Germany™s 5G auction last week.

Stateside, stocks were also little changed as investors awaited news from the Federal Reserve, which is due to deliver its latest policy update at 7 p.m. London time.

Source : CNBC

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