European Shares Subdued As Dollar Extends Slide Ahead Of Fed Decision
(RTTNews) - European stocks were subdued on Wednesday after two days of gains. A cautious undertone prevailed ahead of the U.S. Federal Reserve's policy decision and earnings from major tech companies.
U.S. President Donald Trump's dollar comments also reflected a lack of confidence in the U.S. economy.
The dollar tested four-year lows and headed for its biggest weekly fall since last April after Trump's suggestion that he was happy with the currency's recent decline. The pan European Stoxx 600 dropped 0.4 percent to 610.75 after rising 0.6 percent on Tuesday.
The German DAX dipped 0.3 percent, France's CAC 40 fell 1.1 percent and the U.K.'s FTSE 100 was down 0.2 percent.
Dutch telecommunications group KPN fell nearly 2 percent after it forecast year-on-year service revenue growth of 2 -2.5 percent for 2026.
Semiconductor equipment maker ASML Holding surged 5 percent after orders in the fourth quarter far exceeded analysts' expectations.
German chemicals maker Wacker Chemie rallied 3 percent after launching a €300 mln cost-cutting plan.
British pet care retailer Pets At Home jumped 4.4 percent after reaffirming its full-year profit outlook.
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