European Stock Exchanges Experienced Volatile Closures Ahead of the Fed's Interest Rate Decision

General Overview of European Markets

Today, European markets closed with a mixed trend ahead of the highly anticipated interest rate decision by the Federal Reserve (Fed). The benchmark index Stoxx Europe 600 ended the day with a %0.06 decline, closing at 575.4 points.

Sector Performance

The banking sector stood out in the markets, with the Stoxx 600 banking index gaining %1.83, attracting the interest of investors. However, the technology index exhibited a weak performance with a %0.50 decline. This situation is associated with investors' cautious approach towards uncertainties in technology stocks.

Country-Based Performances

France's CAC 40 index decreased by %0.19, falling to 8,200.88 points, while Italy's FTSE MIB 30 index rose by %0.26, reaching 43,242.53 points. In the UK, the FTSE 100 index gained %0.61, closing at 9,756.14 points. Germany's DAX 30 index, on the other hand, finished the day with a %0.64 decline at 24,124.21 points.

Currency Market and Economic Developments

The euro/dollar parity was trading at a level of 1.165, reflecting a %0.009 increase as of 20:20 Turkish time. Today, the easing tensions between the world's two largest economies, China and the US, emerged as a supportive factor for European equity markets. However, investors are focused on the Fed's forthcoming statements and Fed Chairman Jerome Powell's press conference. In the money markets, there is a high probability that the Fed will lower its policy rate by 25 basis points.