October 20, 2021

European stocks head for higher open as markets prepare for Fed update

European stocks are expected to open higher on Wednesday as global investors await the outcome of the latest meeting of the U.S. Federal Reserve and as tensions ease over embattled Chinese property developer Evergrande.

Britain’s FTSE is seen opening 16 points higher at 6,985, Germany’s DAX 52 points higher at 15,364, France’s CAC 40 up 28 points at 6,566 and Italy’s FTSE MIB 11 points higher at 25,059, according to IG.

Top of the agenda for investors on Wednesday is the conclusion of the U.S. Federal Reserve’s highly anticipated September meeting with investors looking out for any indications about the Fed’s tapering of its easy monetary policy.

The Fed will release a policy statement with economic and interest rate forecasts, then Chairman Jerome Powell is expected to speak to the media at 2:30 p.m. ET. Powell has said previously that tapering could occur this year, but investors…

Read full article here: www.cnbc.com