European shares stand still as miners weigh

European shares stand still as miners weigh

On Wednesday, European stocks started intact, suppressed by a dip in mining shares and underpinned by a big soar for Ericsson, right after a trader purchased a stake in the telecoms equipment company.

The STOXX 600 index slumped 0.02%, euro zone blue chips gained 0.1%. As for the FTSE, it added 0.2%, underpinned by a weaker sterling that declined after a new survey showed the UK risks a hung parliament following an upcoming June 8 election.

Ericsson went up 4%, thus leading STOXX gainers, right after Cevian Capital purchased a stake of more than 5%, telling it saw considerable potential in the Swedish company.

Cellnex turned to be another strong gainer after a Bloomberg data stressed that American Tower might bid. Additionally, Cellnex revealed that its management didn’t have any contact with American Towers.

Metro found itself the number one loser right after the German retailer posted results demonstrating a loss at its consumer electronics division.

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The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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