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European shares inch higher as investors eye major Fed policy outcome -Breaking

by Mike Robinson

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© Reuters. The graph of the German share price index DAX is pictured at Frankfurt Stock Exchange, Germany. It was dated December 13, 2021. REUTERS/Staff

(Reuters) – European stocks rose on Wednesday in anticipation of U.S. Federal Reserve’s policy decision. This is expected to indicate a faster withdrawal of pandemic stimulative measures that are intended to combat broadening inflationary risk.

At 0831 GMT, pan-European had risen 0.5% to 471.84 point. Asia’s stock markets fell after China’s November weaker than expected retail sales impacted sentiment.

The index was supported by the tech, utility and auto sectors, while miners, energy stocks and others dropped.

Generali’s shares (MI:) rose 1.3% as Generali, Italy’s biggest insurer, promised to pay back up to $6.88 billion in dividends and buybacks. Philippe Donnet was the Chief Executive Officer of Generali.

DCC, a support services provider, was the best performer after its announcement of Almo Corp’s acquisition for $610m and a J.P.Morgan price target rise.

British Airways parent IAG (LON 🙂 shares fell 1% on the news that it was in advanced negotiations to cancel its acquisition rival Air Europa, Spanish company Globalia.

($1 = 0.8872 euros)

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