European stock indices closed lower Wednesday as investors avoided risk ahead of the US interest rate decision that could mark the start of a monetary easing cycle in the world’s largest economy.
The European Stoxx 600 index fell 0.5 percent, led by the food companies sub-index which fell 1 percent, along with declines for all major European stock exchanges.
The healthcare sector sub-index lost 0.7 percent as shares of Danish pharmaceutical company Novo Nordisk fell 2.4 percent.
The British FTSE 100 index closed down 0.7 percent, while the pound sterling rose 0.3 percent against the dollar.
Markets are awaiting the start of the expected monetary easing cycle from the Federal Reserve (the US central bank), which is expected to announce its decision on interest rates later Wednesday.
Data in Britain showed that the inflation rate was unchanged in August, but it accelerated in the services sector, which the Bank of England closely monitors, reinforcing expectations that the bank will keep interest rates unc
hanged on Thursday.
Source: Qatar News Agency