LIVE MARKETS-STOXX edges higher as Fed comes into focus, defensives lag
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STOXX EDGES HIGHER AS FED COMES INTO FOCUS, DEFENSIVES LAG
A pullback in oil prices lifted European shares for a third straight session on Wednesday, as investors readied for guidance from the Federal Reserve on how the conflict in the Middle East could influence its policy outlook.
Gains were broad, with banks .SX7P, travel stocks .SXTP, industrials .SXNP and construction .SXOP all rising more than 1%, as crude prices declined. Chip stocks also drew support, tracking a rally among Asian peers overnight.
Telecoms .SX7P, however, fell 0.9% from near nine‑year highs after a recent run‑up driven by their defensive appeal.
Other defensives across consumer staples, utilities and healthcare were also weaker.
The pan-European STOXX 600 .STOXX index was last up by around 0.4%.
(Danilo Masoni)
EARLIER ON LIVE MARKETS:
BEFORE THE BELL: EUROPEAN FUTURES RISE AS OIL PRICES FALL CLICK HERE
TO DOT, OR NOT TO DOT, THAT IS THE QUESTION CLICK HERE
