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15 Dec 2021

European Shares Inched up as Investors Await Fed Policy Outcome

The Index Today

On Wednesday, European shares inched higher before the U.S. Federal Reserve's policy decision that is forecasted to provide a signal for a quicker withdrawal of its pandemic stimulus measures to contrast the widespread inflationary risks.

The pan-European STOXX 600 was up 0.5% at 471.84 points, as of 0831 GMT.

Among individual companies, shares of Generali (MI:GASI) rose 1.3% after Italy's top insurer pledged to return up to 6.1 billion euros ($6.88 billion) in dividends and buybacks to shareholders as Chief Executive Officer Philippe Donnet presented a new strategy. The top performer on the benchmark was support services provider DCC, which jumped 5.8%, after announcing its acquisition of Almo Corp for about $610 million and receiving a price target raise at J.P.Morgan, Reuters reported.

Shares of IAG (LON:ICAG), British Airways' parent company, dropped 1% after saying it is in advanced talks to cancel its acquisition of rival Air Europa from Spanish company Globalia.

($1 = 0.8872 euros)

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