economy
European stocks close lower as attention turns to the Fed
European stocks finished Wednesday's session in the red as the war in Iran and oil prices remain in the spotlight, and central banks come into focus.
TL;DR
- European stocks closed lower, with the Stoxx 600 down 0.7%.
- Diploma shares rose 17.8% after upgrading its full-year outlook, expecting 9% organic revenue growth.
- Softcat shares climbed 9.2% following an 'exceptional' fiscal half-year performance and a hiked full-year guidance.
- Oil prices increased, with Brent crude up 4.8% to $108.41 per barrel.
- Investors are focused on the U.S. Federal Reserve's interest rate decision and guidance.
- U.S. Producer Price Index unexpectedly jumped 0.7% in February.
- U.K. Gilt yields and German Bund yields rose following U.S. inflation data.
- Upcoming EU inflation data and monetary policy decisions from various central banks are anticipated.