European equities advance as Fed policy decision looms

Macro
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Summary · why it matters

European equities advanced on Wednesday as investors awaited the U.S. Federal Reserve's policy decision. The pan-European Stoxx 600 moved 0.31% higher to €648.90, with London's UKX up 0.55%, Germany's DAX up 0.27%, and France's CAC up 0.49%. The Fed is widely expected to leave the federal funds rate unchanged at 3.50%–3.75% for a fifth consecutive meeting in July. On the corporate front, UBS Group and Standard Chartered announced new buybacks after strong earnings, while investors tracked results from L'Oréal, Hermès, Airbus, Aon, and Deutsche Bank. In the bond market, the yield on the US 10-year Treasury was up 1 basis point to 4.61%, the UK's 10-year yield was up 2 basis points to 4.97%, and Germany's 10-year yield was up 1 basis point to 3.12%.

Impact on stocks 9

Financials · 3 stocks
Standard Chartered PLC
STAN
▲ PositiveCapitalrelevance

Announced new buyback after strong earnings, a positive capital allocation event.

UBS Group AG
UBSG
▲ PositiveCapitalrelevance

UBS announced new buybacks after strong earnings.

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